XAU/USD will be retraced by PP at 1,308.46

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Positions Today Yesterday % Change
Longs 27% 28% -3.70%
Shorts 73% 72% 1.37%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Sell
Stochastic (5; 3; 3) Buy Neutral Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

During Friday's trading session, the yellow metal passed through the support level of the 55-hour simple moving average to the 1,314.00 mark. On Monday morning, the gold was depreciating against the US Dollar to pass through the support of the 100-hour simple moving average to 1,310.75. 

Most likely, the yellow metal will bounce off the monthly pivot point at 1,308.46 to stay at the 1,312.00 level during the trading session. 

However, the gold could pass through the support level of the monthly pivot point at 1,308.46 to trade near the 200-hour simple moving average at the 1,30.50 mark.

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