Positions | Today | Yesterday | % Change | |
Longs | 50% | 51% | -2.00% | |
Shorts | 50% | 49% | 2.00% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Sell | Sell | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Buy | Neutral | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇒ | ⇒ | ⇒ |
During the early hours of Wednesday's trading session the yellow metal's price began a slight decline. The decline started after the metal reached above the 1,320 mark and setting a new record.
All in all, the decline was expected, because such a record surge had only a slight chance of continuing.
Meanwhile, there are various signs that the surge of the commodity price will increase after a period of consolidation. The base for that from a technical perspective would be the combined support of a junior channel up pattern and the 55-hour simple moving average.