XAU/USD trades sideways at 1,310.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
 Positions Today Yesterday Change
 Longs 35% 34% 2.0%
 Shorts 65% 66% -1.1%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Buy Buy
 RSI(14) Neutral Neutral Sell
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Sell Buy Buy
 SAR(0.02;0.2) Buy Buy Buy
 Aggregate

During the previous trading session, the yellow metal passed through the support level of the monthly pivot point at 1,308.46. On Tuesday morning, the gold took the support of the monthly PP to break the resistances of the 55-hour and the 100-hour simple moving averages to trade at the 1,312.80 mark. 

In regards to the near-term future, most likely, the yellow metal will trade sideways between the simple moving averages at the 1,310.00 level. 

On the other hand, the 200-hour simple moving average could resist the gold to push the rate to the 1,305.00 level.

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