XAU/USD breaks resistance and surges

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

Positions Today Yesterday % Change
Longs 74% 72% 2.70%
Shorts 26% 28% -7.69%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Sell Neutral Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The yellow metal's price on Monday morning continued the surge, which began on late Friday. On Friday, the pair managed to break the resistance of the 55-hour SMA and a monthly pivot point.

On Monday morning the most relevant aspect of the commodity price's chart was the fact that the price had reached above all notable close by resistance levels. Namely, it faced no resistance levels as high as the 1,196.70 level. 

At that level the 200-hour simple moving average was the only resistance level, which could stop the price from reaching back above the 1,200.00 mark.

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