Positions | Today | Yesterday | % Change | |
Longs | 55% | 54% | 1.82% | |
Shorts | 45% | 46% | -2.22% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Sell | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Neutral | Neutral | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇒ | ⇒ | ⇘ |
In result of the surge that was triggered by two disappointing macroeconomic data releases as well as the rising 55- and 100-hour SMAs the price of yellow metal ended up at the 1,273.00 mark.
The further advance seems unlikely, as the exchange rate faces resistance formed by the monthly PP and the upper trend-line of a four-month long dominant descending channel that supposedly started to transform into rising wedge formation.
However, the overall market sentiment as well as allocation of pending orders suggest that rise of the bullion might continue. In case the pair crosses the above barriers, it will be free to climb up to the 1,287.15 level, which represents location of the 100-day SMA.