XAU/USD breaks trend lines

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

Positions Today Yesterday % Change
Longs 65% 64% 1.54%
Shorts 35% 36% -2.86%
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 yellow metal on Wednesday broke all the previously charted trend lines on the hourly chart of the yellow metal's price. However, the bullion did not fully ignore the trend lines, they managed to squeeze the commodity price prior to a short lived break out to the upside. 

In regards to the near term future, the commodity price was located on Thursday just below the various simple moving averages that are used by Dukascopy Analytics. It is expected that these SMAs will force the price of the bullion lower.

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