Gold trades near 1,250 level

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 48% 47% 2.08%
Shorts 52% 53% -1.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The yellow metal has revealed a short term ascending channel pattern. The pattern could be drawn only after the fluctuations of Thursday's trading session showed, where the reference points of the pattern's trend lines are located at. However, during Friday's trading session the borders of the channel most likely will not play a significant role. The 200-hour SMA is set to be of more importance, as the pair had once more reached above the monthly PP at 1,253 while the mentioned SMA was preparing to provide resistance at 1,255.40. It is highly likely that the SMA will push the pair into a combined support of the monthly PP and the lower trend line of the short term junior pattern.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.