Gold Technical Analysis: 100-day EMA keeps sellers hopeful


  • Gold prices seesaw near October low.
  • Oversold RSI conditions, July month high question further declines.
  • October 11 low, 21-day EMA exert downside pressure.

Although Gold prices stop further declines below October low, a sustained trading below 100-day EMA for the first time since late-May keep sellers hopeful as the metal trade around $1,460 during the Asian session on Monday.

July month high close to $1,452.50 seems to be the immediate support ahead of 38.2% Fibonacci retracement of April-September upside, at $1,445.

Should the quote continue trading southwards past-$1,445, a descending trend line since mid-August, around $1,433 and $1,412/11 area including 200-day Exponential Moving Average (EMA) and 50% Fibonacci retracement will be on bears’ radar.

Though, nearly oversold conditions of 14-bar Relative Strength Index (RSI) can pierce a 100-day EMA level of 1,464, which in turn could challenge October 11 low around $1,474.

It should, however, be noted that 21-day EMA and 23.6% Fibonacci retracement close to $1,486/88 area could keep buyers in check after $1,474.

Gold daily chart

Trend: pullback expected

Additional important levels

Overview
Today last price 1460.57
Today Daily Change 1.96
Today Daily Change % 0.13%
Today daily open 1458.61
 
Trends
Daily SMA20 1491.66
Daily SMA50 1499.53
Daily SMA100 1476.85
Daily SMA200 1390.47
 
Levels
Previous Daily High 1472.94
Previous Daily Low 1456.43
Previous Weekly High 1514.85
Previous Weekly Low 1456.43
Previous Monthly High 1519.04
Previous Monthly Low 1455.5
Daily Fibonacci 38.2% 1462.73
Daily Fibonacci 61.8% 1466.63
Daily Pivot Point S1 1452.38
Daily Pivot Point S2 1446.15
Daily Pivot Point S3 1435.88
Daily Pivot Point R1 1468.89
Daily Pivot Point R2 1479.16
Daily Pivot Point R3 1485.39

 

 

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