XAU/USD approaches dominant support

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

Positions Today Yesterday % Change
Longs 67% 65% 2.99%
Shorts 33% 35% -6.06%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Buy
Stochastic (5; 3; 3) Buy Neutral Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The resistance of the simple moving averages managed to force gold prices lower. The descent had almost reached the 1,200.00 level by the middle of Friday's trading session.

However, the commodity price was still set to face various support levels below it properly touches the psychologically significant 1,200.00 level. 

The lower trend line of a dominant pattern on Friday was located just above the 1,204.00 mark. In addition, the first monthly support pivot point level is located at the 1,202.25 mark.

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