Gold Undecided Around Monthly Pivot Point

Discussion in 'Technical Analysis' started by Kaitlin, May 13, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Bullion prices are quite volatile this week, as gains are quickly changed by massive sell-offs. Yesterday XAU/USD corrected lower into the 1,263/69 area where it encountered the monthly pivot along with the 20-day SMA and weekly S1. Because of closing above the lower bound of this zone, gold should recover[​IMG]

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