XAU/USD moves in accordance with pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 49% 48% 2.04%
Shorts 51% 52% -1.96%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Neutral
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The bullion's price continues to move in accordance with the discovered patterns. On Thursday morning the commodity price decline to trade below the resistance of the 55-hour SMA, which was located at the 1,240 mark. The metal was making attempts to regain lost ground during the morning hours of the session. However, in accordance with the ascending channel pattern, in which the metal trades, the bullion is set to decline down to the support line of the mentioned pattern. Before that occurs the commodity price might face the support of the 100-hour SMA, which on Thursday was located near the 1,235 mark. Meanwhile, down to the just mentioned simple moving average there are no other support levels, which creates a free range of almost 500 base points.

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