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Gold Technical Analysis: Bulls take breather near a short-term ascending trend-channel resistance

   •  The precious metal reversed an early Asian session dip and climbed to fresh six-month tops, around $1287 region, in the last hour. 

   •  The post-Christmas up-move has been along a short-term ascending trend-channel, which was now seemed to act as an immediate hurdle.

   •  Slightly overbought technical indicators on the daily chart turned out to be one of the key factors that prompted some profit-taking. 

   •  However, oscillators on hourly charts maintained their bullish bias and hence, the pull-back might still be categorized as a buying opportunity.

Gold 30-mins. chart

XAU/USD

Overview:
    Today Last Price: 1285.4
    Today Daily change: 2.8e+2 pips
    Today Daily change %: 0.221%
    Today Daily Open: 1282.57
Trends:
    Previous Daily SMA20: 1255.92
    Previous Daily SMA50: 1234.97
    Previous Daily SMA100: 1221.32
    Previous Daily SMA200: 1229.3
Levels:
    Previous Daily High: 1282.85
    Previous Daily Low: 1279.4
    Previous Weekly High: 1284.7
    Previous Weekly Low: 1258.1
    Previous Monthly High: 1284.7
    Previous Monthly Low: 1221.39
    Previous Daily Fibonacci 38.2%: 1281.53
    Previous Daily Fibonacci 61.8%: 1280.72
    Previous Daily Pivot Point S1: 1280.36
    Previous Daily Pivot Point S2: 1278.16
    Previous Daily Pivot Point S3: 1276.91
    Previous Daily Pivot Point R1: 1283.81
    Previous Daily Pivot Point R2: 1285.06
    Previous Daily Pivot Point R3: 1287.26

 

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