Gold - Above $1300 with overbought RSI

FX:XAUUSD   Gold Spot / U.S. Dollar
Resistance - $1303, $1313, $1322

Support - $1296, $1287, $1283

  • Cautious Fed and a resulting sharp drop in Fed rate hike bets pushed gold             above $1300 levels in Asia, although the 4-hour RSI is overbought, while daily RSI is entering overbought territory.
  • Furthermore, dovish Fed was priced-into some extent, thus leaving doors for a technical correction to daily 5-MA level of $1287 levels.
  • Gold's failure to take out/sustain above $1303 followed by a break below Asian session low of $1296 would signal a drop to $1287 levels.
  • On the higher side, breach of $1303 on hourly closing basis could yield $1310-1312 levels.

Gold Seasonality study
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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