XAU/USD retreats after reaching above 1,320

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

Positions Today Yesterday % Change
Longs 50% 51% -2.00%
Shorts 50% 49% 2.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

During the early hours of Wednesday's trading session the yellow metal's price began a slight decline. The decline started after the metal reached above the 1,320 mark and setting a new record. 

All in all, the decline was expected, because such a record surge had only a slight chance of continuing. 


Meanwhile, there are various signs that the surge of the commodity price will increase after a period of consolidation. The base for that from a technical perspective would be the combined support of a junior channel up pattern and the 55-hour simple moving average.

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