Gold Technical Analysis: Bulls take breather near a short-term ascending trend-channel resistance
• The precious metal reversed an early Asian session dip and climbed to fresh six-month tops, around $1287 region, in the last hour.
• The post-Christmas up-move has been along a short-term ascending trend-channel, which was now seemed to act as an immediate hurdle.
• Slightly overbought technical indicators on the daily chart turned out to be one of the key factors that prompted some profit-taking.
• However, oscillators on hourly charts maintained their bullish bias and hence, the pull-back might still be categorized as a buying opportunity.
Gold 30-mins. chart
-636820117581082930.png)
XAU/USD
Overview:
Today Last Price: 1285.4
Today Daily change: 2.8e+2 pips
Today Daily change %: 0.221%
Today Daily Open: 1282.57
Trends:
Previous Daily SMA20: 1255.92
Previous Daily SMA50: 1234.97
Previous Daily SMA100: 1221.32
Previous Daily SMA200: 1229.3
Levels:
Previous Daily High: 1282.85
Previous Daily Low: 1279.4
Previous Weekly High: 1284.7
Previous Weekly Low: 1258.1
Previous Monthly High: 1284.7
Previous Monthly Low: 1221.39
Previous Daily Fibonacci 38.2%: 1281.53
Previous Daily Fibonacci 61.8%: 1280.72
Previous Daily Pivot Point S1: 1280.36
Previous Daily Pivot Point S2: 1278.16
Previous Daily Pivot Point S3: 1276.91
Previous Daily Pivot Point R1: 1283.81
Previous Daily Pivot Point R2: 1285.06
Previous Daily Pivot Point R3: 1287.26