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16 Nov 2018
Gold Technical Analysis: bullish continuation likely above $1,216
- Gold is consolidating in the range of $1,207 to $1,216 and a break above the upper end of the trading range would confirm a bullish continuation pattern, that is, a revival of the rally from the Nov. 14 low of $1,199.
- The yellow metal has found acceptance above the 200-hour exponential moving average (EMA). Further, the 50-hour EMA has cut the 100-hour EMA from below, confirming a bullish crossover.
- The prospects of the bullish breakout weaken if prices fall back below the 200-hour EMA of $1,213.
Hourly Chart
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Trend: Bullish above $1,216
XAU/USD
Overview:
Last Price: 1214.37
Daily change: 1.2e+2 pips
Daily change: 0.102%
Daily Open: 1213.13
Trends:
Daily SMA20: 1221.29
Daily SMA50: 1213.93
Daily SMA100: 1206.53
Daily SMA200: 1240.11
Levels:
Daily High: 1216.47
Daily Low: 1207
Weekly High: 1236.6
Weekly Low: 1206.3
Monthly High: 1243.43
Monthly Low: 1182.54
Daily Fibonacci 38.2%: 1212.85
Daily Fibonacci 61.8%: 1210.62
Daily Pivot Point S1: 1207.93
Daily Pivot Point S2: 1202.73
Daily Pivot Point S3: 1198.46
Daily Pivot Point R1: 1217.4
Daily Pivot Point R2: 1221.67
Daily Pivot Point R3: 1226.87