Positions | Today | Yesterday | % Change | |
Longs | 44% | 45% | -2.27% | |
Shorts | 56% | 55% | 1.79% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Neutral | Sell | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Buy | Buy | |
SAR (0.02; 0.2) | Buy | Buy | Buy | |
Aggregate | ⇗ | ⇒ | ⇗ |
The strong upside momentum that drove Gold on Friday morning reversed south near the 1,338.00 mark. This move was followed by a period of decline. The yellow metal was stranded between the 55– and 100-hour SMAs for the most part; however, a strong hourly fall breached the former and left the rate testing the 200-hour SMA and the monthly R1 by the time of this analysis.
In terms of fundamentals, this support area is expected to hold unless a positive outcome regarding the US government shutdown results in a notably stronger US Dollar. On the other hand, the northern side is guarded by the 100-hour SMA and the weekly PP circa 1,334.00.
It is likely that the pair remains stranded between the aforementioned barriers until a breakout determines the pair's further direction.