Market Analytics and Technical Considerations
Key Points
This Tuesday, gold is staging a comeback climb above the $1,750 mark. The comeback of the XAU/USD has to be accepted above $1,760.
As long as the $1,740 level is held, the negative will be buffered.
The 23.6% Fibonacci mark and the ascending trendline support that turned into resistance, which are presently at $1,747 and $1,749, respectively, have been reclaimed by the gold price. The round $1,760 price is where the next upward barrier is visible. For the additional recovery to start moving in the direction of $1,770, acceptability over the latter is essential.
The fall, on the other hand, will probably continue to be buffered as long as the $1,740 level is held. Following that, the bullish 21-day Moving average (DMA) around $1,728 will be in action. For gold bears, the goal will be to breach the $1,722 strong support line. This level is formed by the intersection of the November 23 bottom with the 38.2% Fibonacci levels.
Technical Indicators
Gold Futures
|
Name |
Value |
Action |
|
RSI(14) |
59.209 |
Buy |
|
STOCH(9,6) |
49.412 |
Neutral |
|
STOCHRSI(14) |
22.924 |
Oversold |
|
MACD(12,26) |
14.190 |
Buy |
|
ADX(14) |
30.538 |
Sell |
|
Williams %R |
-54.602 |
Neutral |
|
Name |
Value |
Action |
|
CCI(14) |
-62.3199 |
Sell |
|
ATR(14) |
18.7607 |
Less Volatility |
|
Highs/Lows(14) |
0.0000 |
Neutral |
|
Ultimate Oscillator |
45.799 |
Sell |
|
ROC |
-0.981 |
Sell |
|
Bull/Bear Power(13) |
9.2240 |
Buy |
|
Buy:3 |
Sell:4 |
Neutral:3 |
Indicators Summary>Sell |
