| Positions | Today | Yesterday | Change |
|---|---|---|---|
| Longs | 48% | 47% | 1.7% |
| Shorts | 52% | 53% | -1.6% |
| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇓ | ⇒ | ⇒ |
On Wednesday, the XAU/USD exchange rate increased to the upper boundary of the falling wedge pattern at 1,492.00. During today's morning, the rate was trading near the given line.
From a theoretical point of view, it is likely that some downside potential could prevail in the market. In this case, the price for gold could target the psychological level at 1,478.00/1,480.00.
However, note that yellow metal could face support of the 55– and 100-hour moving averages, currently located circa 1,488.00. Thus, if the given pattern does not hold, gold could target the 200-hour SMA at 1,495.49.