Gold recovers after crashing

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

Positions Today Yesterday % Change
Longs 47% 48% -2.13%
Shorts 53% 52% 1.89%
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) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

After the sudden crash of the yellow metal, which occurred on Monday, the bullions price was recovering on Tuesday. The yellow metal traded rather flat, as it faced the resistance of the first weekly support level a the 1,246 mark. However, that resistance was broken and the bullion jumped to trade above the 1,250 mark. By looking at the technical aspects of the commodity price on the hourly chart, a prolonged recovery of the metal now seems unlikely. Every ascending chart of the bullion has been broken. Moreover, the metal faces the resistance of the various simple moving averages, the monthly pivot point at 1,253 and the weekly pivot point at 1,252.57. However, if these levels of resistance are broken, the pair might resume the surge.

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