- Gold looks north after Tuesday's bullish marubozu candle.
- The 10-day SMA is likely to offer resistance ner $1,819.
Gold is currently trading largely unchanged on the day near $1,814 per ounce.
The yellow metal could test and possibly break above the descending 10-day Simple Moving Average (SMA) at $1,819, as Monday's bullish marubozu candle shows buyers have regained control.
A bullish marubozu occurs when buyers control the price action from the opening bell to the closing bell. More substantial gains often follow the candlestick pattern.
Acceptance above the 10-day SMA would shift the focus to the former support-turned-hurdle at $1,850. Alternatively, a failure to beat the 10-day SMA resistance would strengthen the odds of a re-test of Tuesday's low of $1,775.
|Today last price||1813.38|
|Today Daily Change||-1.13|
|Today Daily Change %||-0.06|
|Today daily open||1814.51|
|Previous Daily High||1817.37|
|Previous Daily Low||1775.52|
|Previous Weekly High||1876.14|
|Previous Weekly Low||1774.4|
|Previous Monthly High||1965.58|
|Previous Monthly Low||1764.6|
|Daily Fibonacci 38.2%||1801.38|
|Daily Fibonacci 61.8%||1791.51|
|Daily Pivot Point S1||1787.56|
|Daily Pivot Point S2||1760.62|
|Daily Pivot Point S3||1745.71|
|Daily Pivot Point R1||1829.41|
|Daily Pivot Point R2||1844.32|
|Daily Pivot Point R3||1871.26|
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