During Friday’s trading session, the yellow metal slumped against the US Dollar passing through the support of the monthly pivot point at 1213.84 level to end the trading session at the 1,210.66 mark. On Monday morning, the gold passed through the support of the 50.00% Fibonacci retracement level to trade at 1207.26.
In regards to the near-term future, the gold will move sideways to trade below the 50.00% Fibonacci retracement level during the day. Most likely, the lack of fundamental news should not break the predictions for the gold on Monday.
On the other hand, the yellow metal could break the resistance of the 50.00Fibo at 1207.49 to surge towards the monthly pivot point at the 1213.84 mark
In regards to the near-term future, the gold will move sideways to trade below the 50.00% Fibonacci retracement level during the day. Most likely, the lack of fundamental news should not break the predictions for the gold on Monday.
On the other hand, the yellow metal could break the resistance of the 50.00Fibo at 1207.49 to surge towards the monthly pivot point at the 1213.84 mark
Comment:
During Tuesday’s trading session, the yellow metal was trading downside to end the trading session at the 1,202.45 mark. On Wednesday morning, the gold was resisted by the 55-hour simple moving average to trade at the 1,203.41 mark.
In regards to the near-term future, the gold will move sideways to trade between the 50.00% Fibonacci retracement level at the 1,207.49 mark and the bottom boundary of the ascending large pattern line at the 1,195.00 mark.
However, the yellow metal could depreciate against the US Dollar during today’s US CPI data release at 13:30 GMT to push the gold the trade near the monthly pivot point at the 1,213.84 mark.
During Tuesday’s trading session, the yellow metal was trading downside to end the trading session at the 1,202.45 mark. On Wednesday morning, the gold was resisted by the 55-hour simple moving average to trade at the 1,203.41 mark.
In regards to the near-term future, the gold will move sideways to trade between the 50.00% Fibonacci retracement level at the 1,207.49 mark and the bottom boundary of the ascending large pattern line at the 1,195.00 mark.
However, the yellow metal could depreciate against the US Dollar during today’s US CPI data release at 13:30 GMT to push the gold the trade near the monthly pivot point at the 1,213.84 mark.
Comment:
During Wednesday’s trading session, the yellow metal broke the resistances of the 55-hour and the 100-hour SMAs to end the trading session at the 1,209.52 mark. On Thursday morning, the gold was trading at the 1,211.18 mark between the monthly pivot point and the 50.00% Fibonacci retracement level.
In regards to the near-term future, the gold will trade sideways to stay at the 1,210.00 level. Besides, the 200-hour simple moving average should resist the yellow metal during the trading session on Thursday.
However, the yellow metal could depreciate against the US Dollar during today’s US Retail Sales data release at 13:30 GMT to push the gold the trade at 1,220.00 level.
During Wednesday’s trading session, the yellow metal broke the resistances of the 55-hour and the 100-hour SMAs to end the trading session at the 1,209.52 mark. On Thursday morning, the gold was trading at the 1,211.18 mark between the monthly pivot point and the 50.00% Fibonacci retracement level.
In regards to the near-term future, the gold will trade sideways to stay at the 1,210.00 level. Besides, the 200-hour simple moving average should resist the yellow metal during the trading session on Thursday.
However, the yellow metal could depreciate against the US Dollar during today’s US Retail Sales data release at 13:30 GMT to push the gold the trade at 1,220.00 level.
Comment:
During Thursday’s trading session, the yellow metal broke the resistance of the monthly pivot point at the 1,213.84 to end the trading session at the 1,214.07 mark. On Friday morning, the gold was resisted by the 200-hour simple moving average to trade at the 1,215.63 mark.
In regards to the near-term future, most likely, the gold will break the resistance of the 200-hour simple moving average at the 1,213.29 mark to trade at the 1,220.00 level.
Besides, the 55-hour simple moving average will try to catch up the yellow metal to give additional support for the gold during the trading session on Friday.
During Thursday’s trading session, the yellow metal broke the resistance of the monthly pivot point at the 1,213.84 to end the trading session at the 1,214.07 mark. On Friday morning, the gold was resisted by the 200-hour simple moving average to trade at the 1,215.63 mark.
In regards to the near-term future, most likely, the gold will break the resistance of the 200-hour simple moving average at the 1,213.29 mark to trade at the 1,220.00 level.
Besides, the 55-hour simple moving average will try to catch up the yellow metal to give additional support for the gold during the trading session on Friday.
During Monday’s trading session, the yellow metal passed through the bottom boundary of the descending small pattern line to end the trading session at the 1,201.74 mark. On Tuesday morning, the gold passed through the support of the 50.00% Fibonacci retracement level to trade at the 1207.26 mark.
In regards to the near-term future, the gold will trade downside due to resistances of the 55-hour SMA and the 50.00% Fibonacci retracement level. Most likely, the yellow metal will be located at the 1,195.00 level during the trading session.
On the other hand, the ascending small pattern line at 1,200.00 could support the yellow metal to push it to trade at the 1,205.00 level on Tuesday.