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 | ⇒ | ⇒ | ⇗ |
The first part of Wednesday's trading session was spent in a calm manner, as the yellow metal was moving along the 55-hour SMA.
A strong surge mid-session pushed the pair 0.94% higher towards its one-week high of 1,348.00. These gains, however, failed to remain for long, as the prevalence of strong downside risks resulted in a plunge back down to the monthly PP and the senior channel at 1,330.00.
Technical indicators demonstrate that this bearish sentiment could allay during the following hours, thus allowing for a slight recovery. Gains are likely to be limited due to the massive resistance cluster formed by the 55-, 100– and 200-hour SMAs and the 23.60% Fibo located near 1,337.00. This area might eventually be breached during the remaining part of this trading week.