Gold to look at 1,205/1,188 dense support

FX:XAUUSD   Gold Spot / U.S. Dollar
39 0 2
"Gold didn't like the data . It may have encouraged some people to take profits on gains from the first quarter."
- LOGIC Advisors (based on Wall Street Journal)

Pair's Outlook
Technical trading of the bullion remains uncertain at the moment, because there are several important resistances and supports surrounding the present spot price of 1,217. From the upside, the weekly pivot point at 1,224 is the most immediate supply, followed by the 23.6% Fibonacci retracement of the Dec-Mar uptrend and the 20-day SMA at 1,227/30. Still, we suspect that the market will attempt to push gold             prices lower in the near-term. However, XAU/USD             will inevitably hit a tough cluster of demand levels and the first support is going to be placed at 1,205 (weekly S1; 55-day SMA ).

Traders' Sentiment
With value losses, several short traders have initiated some profit taking in the SWFX market. It decreased the overall share of the bears down to 53% by Monday morning from 59% three days ago.
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