Gold intraday: under pressure below 1878.00

  • May 19, 2021

Our pivot point stands at 1878.00.

Our preference: under pressure below 1878.00.

Alternative scenario: the upside breakout of 1878, would call for 1889.50 and 1896.50.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Gold stands below its 20 and 50 period moving average (respectively at 1872.30 and 1870.10).

Supports and resistances:
1896.50 **
1889.50 *
1878.00 **
1873.50
1868.86 last
1848.50
1841.50 **
1835.00 *
1828.00 **