Technical Analysis 28-11-2016

GOLD: XAUUSD 1,194.16 / 1,194.70 by:

High: 1,197.44 | Low: 1,186.39

Gold went below the level reached last May and made a pullback. If the metal would rise above 1,200 $/oz a short term rally can lift the commodity to 1,240.  The 200SMA is at 1,286 at the moment. If a selling wave will occur is it likely that negative market sentiment could accelerate below 1,170, with key supports at 1,130 and 1,100. The RSI(14) is just off the oversold level.

 

R31,286
R21,240
R11,200
S11,170
S21,130
S31,100
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