Michael_Macdonald-XATSUK

Gold XAUUSD at risk of a short-term corrective pullback

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold             prices have failed to extend the December 2016 rally. Prices are settling back from the USD1263.80 monthly high of 27 February, as bullish short-term studies unwind.

Focus is turning to the USD1216.80 low of 15 February, with the USD1210, (38.2%) Fibonacci retracement just beneath here. A break to congestion around USD1200 is looked for, as overbought momentum studies unwind, with risk of a test of the USD1193, (50%) retracement before the rising Tension Indicator (not shown) helps to stabilise prices.

A close above USD1263.80 is needed to reinstate the bullish trend , and open up the USD1278.40 Fibonacci retracement . However, immediate gains are expected to fade beneath here, as short-term profit-taking develops.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out