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Gold Anaysis: A break above 200-DMA, targets key Fib resistance near $ 1135

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold price in terms of USD) clung to the solid 5-DMA support above $ 1122 on Tuesday, as expected, and closed the day slightly in the red at 1127.30. The prices formed a spinning top candle sticks on the daily charts yesterday, having failed to extend beyond 200-DMA resistance then placed at 1129.80. The yellow metal continued to consolidate the upside after the recent strength and awaited fresh momentum from the US jobs data due later this week. While the persistent risk-off moods on

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