Gold – Bullish move stalled at 23.6% Fibo

FX:XAUUSD   Gold Spot / U.S. Dollar
Resistance - $1253, $1264, $1270

Support - $1242, $1239.26, $1230

  • Gold’s sharp rally on Friday post horrible non-farm payrolls release has left it overbought as per RSI on the hourly and 4-hour time frame.
  • Consequently, bullish momentum ran out of steam as prices approached $1253 (23.6% of 2011 high-2015 low) in Asia.
  • Further correction to $1239-1235 cannot be ruled out, especially since prices are having a tough time holding above weekly 5-MA.
  • A recovery from $1239-1235 region followed by a break above Asian session high of $1248.73 could see prices attempt a break above $1253. If successful, doors would open for a rally to $1263 levels.
  • On the lower side, break below daily 100-MA at $1224 would signal bullish invalidation, although on a larger scheme of things bears would have more say below $1191 (Oct 2015 high) levels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out