Positions | Today | Yesterday | % Change | |
Longs | 44% | 41% | 6.82% | |
Shorts | 56% | 59% | -5.36% | |
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) | Sell | Buy | Buy | |
SAR (0.02; 0.2) | Sell | Buy | Buy | |
Aggregate | ⇓ | ⇗ | ⇗ |
Even though the yellow metal managed to shoot up during the first half of Tuesday, the combined resistance of the 55-hour SMA, the weekly PP and the bottom boundary of the breached two-month channel up proved to be an unbreakable barrier which sent the pair down to 1,336.80.
The rate has since returned back to the 55-hour SMA which is now likewise reinforced by the 200-hour SMA. It should edge slightly higher in this session towards the prevailing short-term channel down circa 1,345.00. The upside target in this case could be the weekly PP and the 100-hour SMA near 1,348.30.
By and large, several noteworthy fundamentals which could shake the market are to be released today. In case of a negative surprise, Gold should be supported by the weekly S1 and the monthly R2 at 1,329.00.