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Jan 14, 2019
Gold Technical Analysis: Focus on today's UTC close
- Gold created an inverted hammer on Friday, making today's close is pivotal.
- Acceptance below Friday's low of $1,286 would validate signs of bullish exhaustion near $1,300 and could yield a corrective pullback to $1,260. A daily close above $1,300 is required for bullish continuation.
- The former scenario is more likely to play out as the impending bullish crossover between the 50- and 200-day moving average (MAs) - a big-time lagging indicator - signaling short-term overbought conditions.
Daily chart
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Bias: Cautiously bearish
XAU/USD
Overview:
Today Last Price: 1291.23
Today Daily change: 2.8e+2 pips
Today Daily change %: 0.215%
Today Daily Open: 1288.46
Trends:
Previous Daily SMA20: 1274.27
Previous Daily SMA50: 1244.74
Previous Daily SMA100: 1228.57
Previous Daily SMA200: 1229.03
Levels:
Previous Daily High: 1295.22
Previous Daily Low: 1286.2
Previous Weekly High: 1297.15
Previous Weekly Low: 1279.35
Previous Monthly High: 1284.7
Previous Monthly Low: 1221.39
Previous Daily Fibonacci 38.2%: 1291.77
Previous Daily Fibonacci 61.8%: 1289.65
Previous Daily Pivot Point S1: 1284.7
Previous Daily Pivot Point S2: 1280.94
Previous Daily Pivot Point S3: 1275.68
Previous Daily Pivot Point R1: 1293.72
Previous Daily Pivot Point R2: 1298.98
Previous Daily Pivot Point R3: 1302.74