Gold awaits consolidation above 20-day SMA
"Risk appetite waned with renewed concern over the power of monetary policy. A weaker U.S. equity market lent support to global volatility and put gold again at centre stage for investors."
- ANZ (based on CNBC)
Pair's Outlook
Following Thursday's spike in gold prices, this precious metal is now finally awaiting a consolidation above a busy cluster of resistances placed between 1,224 and 1,231. The upper band of it is the 20-day SMA, and exactly a closure above this line would considerably improve the bullion's future forecast. To support this view, the new weekly technical indicators are strongly favouring a rally over the upcoming five-day period. At the same time, another failure of the bulls, if happens, is unlikely to become long lasting, as XAU/USD will then encounter a demand line in face of the 55-day SMA at 1,213.
Traders' Sentiment
For the first time in precisely nine weeks the bullish SWFX market share soared above the 50% threshold. Now 51% of market participants believe the bullion is going to appreciate, up from only 48% yesterday.
- ANZ (based on CNBC)
Pair's Outlook
Following Thursday's spike in gold prices, this precious metal is now finally awaiting a consolidation above a busy cluster of resistances placed between 1,224 and 1,231. The upper band of it is the 20-day SMA, and exactly a closure above this line would considerably improve the bullion's future forecast. To support this view, the new weekly technical indicators are strongly favouring a rally over the upcoming five-day period. At the same time, another failure of the bulls, if happens, is unlikely to become long lasting, as XAU/USD will then encounter a demand line in face of the 55-day SMA at 1,213.
Traders' Sentiment
For the first time in precisely nine weeks the bullish SWFX market share soared above the 50% threshold. Now 51% of market participants believe the bullion is going to appreciate, up from only 48% yesterday.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.