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Jan 7, 2019
Gold Technical Analysis: Bearish outside day makes today's close pivotal
- Gold created a bearish outside-day on Friday, validating the overbought conditions signaled by the 14-day relative strength index (RSI).
- Essentially, the rally from the Nov. 13 low of $1,196 has paused. More importantly, bearish reversal would be confirmed if prices close below $1,276 (Friday's low) today. On the other hand, a close above $$1,298 (Friday's high) would signal a resumption of the rally.
- Today's close, therefore, is pivotal.
Daily Chart
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Trend: Neutral
XAU/USD
Overview:
Today Last Price: 1289.29
Today Daily change: 4.3e+2 pips
Today Daily change %: 0.332%
Today Daily Open: 1285.03
Trends:
Previous Daily SMA20: 1262.86
Previous Daily SMA50: 1238.88
Previous Daily SMA100: 1224.07
Previous Daily SMA200: 1229.19
Levels:
Previous Daily High: 1298.42
Previous Daily Low: 1276.82
Previous Weekly High: 1298.42
Previous Weekly Low: 1276.82
Previous Monthly High: 1284.7
Previous Monthly Low: 1221.39
Previous Daily Fibonacci 38.2%: 1285.07
Previous Daily Fibonacci 61.8%: 1290.17
Previous Daily Pivot Point S1: 1275.09
Previous Daily Pivot Point S2: 1265.15
Previous Daily Pivot Point S3: 1253.48
Previous Daily Pivot Point R1: 1296.69
Previous Daily Pivot Point R2: 1308.36
Previous Daily Pivot Point R3: 1318.3