20.4 C
New York
Sunday, September 26, 2021
spot_img

Gold Bounced Finishing in the Green

$XAU, $GLD, $USD

Gold prices bounced off session lows and closed in the Green Tuesday, despite a stronger USD.

Yields remain edged lower.

German data is showing some small signs of improvement.

President Trump in a speech before the Economic Club of New York on Tuesday to hammered the Fed, saying that although the stock market has surged 45% since he was elected, if the Fed has eased rates further the returns would be 25% higher than they currently are.

Trade gold with GLD

Technical Analysis: Gold prices rebounded from session lows to close in the Green. Prices made a lower low rebounding from support near 1,445. Short term resistance is seen near the 100-Day MA at 1,477, and then the 10-Day MA at 1,484.

Support on the precious Yellow metal chart is seen near the October lows at 1,426.  

Short term momentum has turned negative. The fast stochastic generated a crossover sell signal. The current reading on the fast stochastic is 10, well above the oversold trigger mark.

Medium-term momentum has turned negative as the MACD index generated a crossover sell signal. This occurs as the MACD line (the 12-Day MA minus the 26-Day MA, crosses below the MACD signal line (the 9-Day MA of the MACD line). The MACD histogram is printing in the Red with a downward sloping trajectory, which points to lower prices in here.

Germany, the EU’s large economy, reported slightly better than expected survey data.

The ZEW Survey’s current situation component remains weak at -24.7 in November, the expectation component came in at -2.1, which was the highest the index has been in the past 6-months.

It far better than the -13.0 expected and the -22.8 figure seen last month.

Stay tuned…

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles