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Gold 1 OZ (XAU=X) Trading in a Tight Range

$XAU #Gold #Commodities #FX #Trading #Markets #Affiliate

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Gold
Ticker: XAU=
Price: $1838.49

Gold News

Gold price ended yesterday with clear negativity to reach the bullish channel’s support line that appears on the chart, noticing that the EMA50 meets this support to add more strength to it, while stochastic begins to provide the positive signals now.

Therefore, we believe that the chances valid to trade positively in the upcoming sessions, and the targets begin at 1905.00 followed by 1928.60, noting that breaking 1870.00 will stop the expected rise and press on the price to turn to decline.

The expected trading range for today is between 1865.00 support and 1905.00 resistance.

The expected trend for today: Bullish

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Technical Indicators

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1,943.81.

The projected lower bound is: 1,820.28.

The projected closing price is: 1,882.05.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 41.3189. This is not an overbought or oversold reading. The last signal was a sell 7 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 56.64. 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 buy 21 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 64. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 18 period(s) ago.

Rex Takasugi – TD Profile

PREC.M.XAU= closed up 4.888 at 1,882.880. Volume was 8,900% above average (trending) and Bollinger Bands were 32% narrower than normal.

Open       High       Low        Close      Volume
1,877.960  1,884.060  1,875.350  1,882.880  9,236
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period    50-period     200-period
Close:           1,875.88     1,865.72      1,828.64
Volatility:      10           21            21
Volume:          924          185           46

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.

Summary

PREC.M.XAU= is currently 3.0% above its 200-period moving average and is in an upward 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 bullish on XAU= and have had this outlook for the last 10 periods.

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