The gold price appreciated 0.19 % since Friday’s trading session. On Monday, the yellow metal was located below the monthly pivot point at the 1,185.75mark.
In regards to the near-term future, most likely, the yellow metal will move downwards to the bottom boundary of the pattern due to the resistance of the 55-hour simple moving average. It seems that the rate will bounce off the pattern line to trade at the 1,182.00 level on Monday.
In addition, if the gold will pass the pattern line, most likely, the yellow metal will be stopped from the decrease by the monthly S1 at the 1,178.08 level.
In regards to the near-term future, most likely, the yellow metal will move downwards to the bottom boundary of the pattern due to the resistance of the 55-hour simple moving average. It seems that the rate will bounce off the pattern line to trade at the 1,182.00 level on Monday.
In addition, if the gold will pass the pattern line, most likely, the yellow metal will be stopped from the decrease by the monthly S1 at the 1,178.08 level.
Comment:
The gold price appreciated 1.34 % since Tuesday’s session. On Wednesday morning hours, the yellow metal was located at the 1,204.39 mark.
In regards to the near-term future, most likely, the yellow metal will trade sideways during the trading session. The simple moving averages will try to catch up the rate to support to in next trading sessions.
On the other hand, today’s fundamental news could affect the gold to break the medium descending pattern to trade near the monthly R1 at the 1,209.98 mark.
The gold price appreciated 1.34 % since Tuesday’s session. On Wednesday morning hours, the yellow metal was located at the 1,204.39 mark.
In regards to the near-term future, most likely, the yellow metal will trade sideways during the trading session. The simple moving averages will try to catch up the rate to support to in next trading sessions.
On the other hand, today’s fundamental news could affect the gold to break the medium descending pattern to trade near the monthly R1 at the 1,209.98 mark.
Comment:
The gold price depreciated 0.42 % since Wednesday’s session. During Thursday’s morning hours, the yellow metal was supported by the 200-hour simple moving average to allocate the rate at the 1,200.37 mark.
In regards to the near-term future, most likely, the yellow metal will trade upwards to the upper boundary of the small pattern line at the 1,208.00 level. The simple moving averages will support the surge during the day.
Besides, the surge cannot be prevented due to lack of significant fundamental news on Thursday!
The gold price depreciated 0.42 % since Wednesday’s session. During Thursday’s morning hours, the yellow metal was supported by the 200-hour simple moving average to allocate the rate at the 1,200.37 mark.
In regards to the near-term future, most likely, the yellow metal will trade upwards to the upper boundary of the small pattern line at the 1,208.00 level. The simple moving averages will support the surge during the day.
Besides, the surge cannot be prevented due to lack of significant fundamental news on Thursday!
Comment:
The gold price depreciated 0.03 % since Thursday’s session. During Friday’s morning hours, the yellow metal was trading between the 55-hour and the 100-hour simple moving averages at the 1,198.04 mark.
In regards to the near-term future, most likely, the rate will stay at the 1.198.00 level during the day. The rate will be supported by the 100– hour and the 200-hour SMAs and resisted by the 55-hour SMA at the bottom boundary of the small ascending pattern.
On the other side, the supports of the 100-hour and the 200-hour SMAs could push the rate to break the resistance of the pattern line to trade at the 1,200.00 level.
The gold price depreciated 0.03 % since Thursday’s session. During Friday’s morning hours, the yellow metal was trading between the 55-hour and the 100-hour simple moving averages at the 1,198.04 mark.
In regards to the near-term future, most likely, the rate will stay at the 1.198.00 level during the day. The rate will be supported by the 100– hour and the 200-hour SMAs and resisted by the 55-hour SMA at the bottom boundary of the small ascending pattern.
On the other side, the supports of the 100-hour and the 200-hour SMAs could push the rate to break the resistance of the pattern line to trade at the 1,200.00 level.
The gold price appreciated 0.38 % since Monday’s trading session. On Tuesday, the yellow metal was trading between the 200– hour and the 100– hour simple moving averages at the 1,194.09 mark.
In regards to the near-term future, most likely, the monthly pivot point at the 1,195.43 mark together with the 200-hour simple moving average will retrace the gold to trade 1,190.00 mark during the day.
On the other hand, the 100-hour simple moving average might support the yellow metal to break the monthly PP and the 200-hour simple moving average to let the gold to trade at the 1,196.00 level on Tuesday.