1,710.38 USD (+0.57%)
Real time data - Gold & Silver Spot
Open: 1,700.67
Change: +9.68
Volume: 341,599
Low: 1,697.46
High: 1,718.51
High / Low range: 21.05
Type: Commodities
Ticker: XAUUSD

GOLD - USD - Gold Is Moving Slightly Higher - Next Level $1,358 - 11/20/2017

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  • Timeframe : Weekly

GOLD - USD - Weekly
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The yellow metal is trying to cover some losses of the previous month and is completing another neutral to bullish week. On the weekly timeframe, the XAU/USD pair is moving higher since December of 2014 and over the last ten months, the price surged almost 9%. If the price continues the rising movement with stronger momentum, it will open the way for the $1,358 resistance level.

From the technical point of view, on the weekly timeframe, gold is holding above the three simple moving averages (50, 100 and 200) acting as strong support levels for the price. The RSI indicator is pointing slightly to the north, whilst the MACD oscillator is flattening in the positive territory. It is worth to mention that in the daily timeframe, the price is trading within the simple moving averages and it needs to break those obstacles for having a clearer tendency.
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