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Commodities

Gold Price Analysis: XAU/USD remains caught between main DMAs in front of Fed week

Gold (XAU/USD) resumed the bearish momentum of its following a short recovery from multi-month lows sub 1dolar1 1800 in the last week.

The sellers returned after the metallic faced rejection at the 50-daily shifting average (DMA), today at $1875.

On Wednesday, gold fell as much as 1 % to near the $1825 region and spent the majority of the week meandering near the latter, using the upside endeavors capped by the 21 DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s day chart clearly shows that the cost continues to oscillate in a determined range. Acceptance above the 50 DMA is actually important to reviving the recovery momentum from four-month troughs of $1765.

Meanwhile, the 200-DMA assistance at $1809 is the degree to get over for the bears. The 14 day Relative Strength Index (RSI) settled the week at 47.01, keeping the chances for additional downside alive.

In addition, a failure to give a weekly closing on top of the vital short-term hurdle of 21 DMA, also hints that more declines could be in the offing.

Nevertheless, the Fed’s finalized monetary policy choice of this season and a probable US fiscal stimulus deal can have a big impact on the gold price activity within the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
These days previous price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now every day open 1839.34

TRENDS
Daily SMA20 1838.62
Everyday SMA50 1874.97
Daily SMA100 1910.26
Day SMA200 1809.34

LEVELS
Previous Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Previous Weekly Low 1822.22
Earlier Monthly High 1965.58
Previous Monthly Low 1764.6
Day Fibonacci 38.2% 1838.76
Day Fibonacci 61.8% 1833.18
Day Pivot Point S1 1826.41
Day Pivot Point S2 1813.47
Day Pivot Point S3 1802.79
Day Pivot Point R1 1850.03
Day Pivot Point R2 1860.71
Day Pivot Point R3 1873.65

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