Our pivot point is at 1636.00.
Our preference
Short term rebound towards 1661.50.
Alternative scenario
The downside breakout of 1636 would call for 1626.50 and 1621.
Comment
The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Gold stands above its 20 period moving average (1644.20) but below its 50 period moving average (1653.80).
Supports and resistances
1672.50 **
1667.00 *
1661.50 **
1655.50
1644.21 last
1640.00
1636.00 **
1626.50 *
1621.00 **
Our preference
Short term rebound towards 1661.50.
Alternative scenario
The downside breakout of 1636 would call for 1626.50 and 1621.
Comment
The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Gold stands above its 20 period moving average (1644.20) but below its 50 period moving average (1653.80).
Supports and resistances
1672.50 **
1667.00 *
1661.50 **
1655.50
1644.21 last
1640.00
1636.00 **
1626.50 *
1621.00 **