GOLD - USD
GOLD - USD
- USD (-)
- Real time data - Gold & Silver Spot
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: XAUUSD
ISIN:

GOLD - USD - Has an Aggressive Upward Run - 03/27/2017 (GMT)

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  • Timeframe : Daily

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The precious metal is creating a sharp upward move following the bounce off the $1,195 support level which coincides with the 50.0% Fibonacci retracement level of the last upward move with low on December 15th, of 2016 and high on February 27th, of 2017. The XAU/USD pair exploited the greenback’s weakness and we are waiting for further upside movement.

Technically, the metal jumped above the 200-daily SMA which acted as a strong obstacle in the previous sessions and now is approaching the $1,265. A break above the aforementioned level will drive the pair towards the $1,308 resistance barrier. The RSI indicator is in the process to surge above the 70 level whilst the MACD oscillator is rising above both, its trigger and zero lines. Moreover, the stochastic oscillator created a bullish crossover within its moving averages indicating further positive tendency.
This member did not declare if he had a position on this financial instrument or a related financial instrument.

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