1653.00 is our pivot point.
Our preference
The downside prevails as long as 1653 is resistance.
Alternative scenario
The upside breakout of 1653, would call for 1666.50 and 1674.50.
Comment
The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Gold stands below its 20 and 50 period moving average (respectively at 1649.20 and 1658.80).
Supports and resistances
1674.50 **
1666.50 *
1653.00 **
1647.50
1641.98 last
1625.50
1617.50 **
1609.50 *
1601.50 **
Number of asterisks represents the strength of support and resistance levels.
Our preference
The downside prevails as long as 1653 is resistance.
Alternative scenario
The upside breakout of 1653, would call for 1666.50 and 1674.50.
Comment
The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Gold stands below its 20 and 50 period moving average (respectively at 1649.20 and 1658.80).
Supports and resistances
1674.50 **
1666.50 *
1653.00 **
1647.50
1641.98 last
1625.50
1617.50 **
1609.50 *
1601.50 **
Number of asterisks represents the strength of support and resistance levels.