Positions | Today | Yesterday | % Change | |
Longs | 45% | 47% | -4.44% | |
Shorts | 55% | 53% | 3.64% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Buy | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Neutral | Buy | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇒ | ⇗ | ⇗ |
The yellow metal is starting to weaken gradually against the US Dollar. Even though the middle of Wednesday's trading session passed with no significant price changes, a strong hourly plunge of 0.78% allowed Gold to breach the 55– and 100-hour SMAs; the weekly PP and the monthly R1 surrendered several hours later.
By Thursday morning, the rate was testing the 200-hour SMA. Given that the total daily losses yesterday was 0.9%, it is likely that bulls try to re-gain some lost positions in this session—a scenario that is likewise supported by north-tended technical indicators.
The highest point for the following session could be the combined resistance of the 55– and 100-hour SMAs and the bottom boundary of the breached channel circa 1,355.00.