Gold pressured by strong resistance

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

Gold was trading along a breached trend-line against the US Dollar during Friday's session. Further advances were restricted by this line and the 100-hour SMA, while a fall below the 1,324.00 was stopped by the weekly PP. 

On Monday, the northern barrier is likewise reinforced by the 200-hour SMA and the 23.60% Fibo. This factor is likely to either pressure the yellow metal lower or result in a minor period of consolidation today. In case the 55-hour SMA and the monthly PP at 1,328.00 is breached, a possible fall is restricted solely by the 38.20% Fibo retracement line at 1,316.67. 

The prevailing patterns suggest that the pair is likely to push lower in both short– and medium-term. The bottom boundary of a two-week channel is located at 1,310.00.

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