Gold swinging wildly but sticking to $1,230.00
- Risk appetite is starting to confuse itself as broader markets struggle to pick a direction on US election results.
- Heaving US Treasuries and a Greenback in flux is seeing Gold struggle to maintain a firm hold in either direction.
Gold has taken some wild swings in early Wednesday's trading session, alternating between spikes to 1,232.00 and drops into 1,223.00 as broader market sentiment whipsaws on US mid-term elections.
The precious yellow metal still remains largely contained within Tuesday's range despite twitchy investors on US mid-term elections, but declining US Treasury yields could begin to dig out the low end of Gold's recent chart action.
Gold still remains up on the day, barely seeing gains above Wednesday's open at 1,227.00. US elections are heading towards a mixed result for today, with Democrats seizing the House of Representatives and the Republican party on pace to retain a majority in the US Senate.
Gold Technical Levels
XAU/USD
Overview:
Last Price: 1229.02
Daily change: 2.4e+2 pips
Daily change: 0.196%
Daily Open: 1226.62
Trends:
Daily SMA20: 1227.86
Daily SMA50: 1211.76
Daily SMA100: 1207.15
Daily SMA200: 1245.57
Levels:
Daily High: 1235.94
Daily Low: 1223.2
Weekly High: 1237.6
Weekly Low: 1211.8
Monthly High: 1243.43
Monthly Low: 1182.54
Daily Fibonacci 38.2%: 1228.07
Daily Fibonacci 61.8%: 1231.07
Daily Pivot Point S1: 1221.23
Daily Pivot Point S2: 1215.85
Daily Pivot Point S3: 1208.49
Daily Pivot Point R1: 1233.97
Daily Pivot Point R2: 1241.33
Daily Pivot Point R3: 1246.71
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
