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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

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

 

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