GOLD: The resistances are nearby
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Above 1285.53 USD the major trend remains bullish. 1363.45 USD and 1376.43 USD are in the line of sight. The breaking of 1285.53 USD would cancel this anticipation and favor a correction toward 1272.55 USD.
Opinion Short Term
Opinion Medium Term
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the cross. However, the RSI is in the overbought area and we can expect a technical correction in the short term. Also, the Stochastics are very high, which confirms the risks in the event of a violent reversal. The volumes traded are more than the average volumes over the last 10 days.
The cross is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this cross is reliable in the medium term. The first buy levels are on the supports situated at 1285.53 USD, then at 1272.55 USD; only the resistances, placed at 1363.45 USD, then at 1376.43 USD, could contain the prices.
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Above 1285.53 USD the major trend remains bullish. 1363.45 USD and 1376.43 USD are in the line of sight. The breaking of 1285.53 USD would cancel this anticipation and favor a correction toward 1272.55 USD.
Opinion Short Term
- Negative
- Resistance 1 £1,363.45
- Support 1 £1,285.53
Opinion Medium Term
- Bearish
- Resistance 2 £1,376.43
- Support 2 £1,272.55
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the cross. However, the RSI is in the overbought area and we can expect a technical correction in the short term. Also, the Stochastics are very high, which confirms the risks in the event of a violent reversal. The volumes traded are more than the average volumes over the last 10 days.
The cross is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this cross is reliable in the medium term. The first buy levels are on the supports situated at 1285.53 USD, then at 1272.55 USD; only the resistances, placed at 1363.45 USD, then at 1376.43 USD, could contain the prices.