Gold trades near 1,280.00

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

Positions Today Yesterday % Change
Longs 48% 47% 2.08%
Shorts 52% 53% -1.92%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

XAU/USD introduced no changes to its overall price level on Monday. The pair was trading in a narrow range around the 1.280.00 mark, as it failed to accelerate following the 1.77% plunge on Friday. A fall below 1,275.00 - its 2018 low - was restricted by the monthly S1. 

It is expected that Gold picks up bullish momentum, similarly to technical indicators that have already started to move higher. It faces a strong resistance cluster formed by the 55-hour SMA, the 61.80% Fibo retracement and the breached senior channel at 1,290.00. 

Some further advance should still follow, thus setting the 1,300.00 territory as today's high. This level is strengthened by the 55-, 100– and 200-period (4H) SMAs.

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