Gold 1 OZ (XAU=X) solid technical resistance at $1,330.00
Technically, April gold futures bulls have the overall near-term technical advantage. A three-week-old uptrend is in place on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,330.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at the March low of $1,280.80.
First resistance is seen at $1,310.00 and then at today’s high of $1,320.20. First support is seen at $1,300.00 and then at this week’s low of $1,298.00.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1,331.73.
The projected lower bound is: 1,287.14.
The projected closing price is: 1,309.43.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 70.6853. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.88. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 20 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 117.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAU= closed down -3.255 at 1,308.980. Volume was 8,900% above average (trending) and Bollinger Bands were 10% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,303.09 1,305.34 1,246.86
Volatility: 10 11 11
Volume: 2,071 414 104
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PREC.M.XAU= is currently 5.0% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into XAU= (bullish). Our trend forecasting oscillators are currently bearish on XAU= and have had this outlook for the last 13 periods.
Latest posts by HEFFX Australia (see all)
- China Plans to Introduce REIT’s to Fund Toll Roads and Sewage - June 5, 2020
- American Billionaires Have Seen Their Wealth Increase While Millions Lose Jobs - June 5, 2020
- Euro: USD/EUR (EUR=X) Expect Some Profit Taking - June 5, 2020