In the course of trading on Monday precious metal prices peaked in November, while the four weeks in a row to lead the gold background of the weak dollar.Safe assets especially now popular among investors, as fears grow because of the ambiguity policy of the new American president.
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Gold (XAU / USD) Location 24.1.2017
On Monday the mood on trading in gold were replaced by a bear. Precious metals moved away from daily highs as traders began to take profits after a recent rally. The pair XAU / USD fell from the level of 1220 dollars per ounce during the Asian session and reached the level of 1210 in the middle of Europe. 50 EMA 100 EMA and the 200 EMA continued upward movement on the 4-hour chart. Resistance is located at 1220 and at 1210 dollars per ounce of support.
The MACD histogram has decreased, which indicates the position gain sellers. RSI Oscillator went down.
Forecast Gold (XAU / USD) 24.01.2017
It is expected that bearish sentiment on the precious metals will have been developed. The price can head to the strong support of 1200, the loss of which will target the traders on the level of 1190 dollars per ounce. To restart growth momentum quotes to overcome a mark of $ 1220 per ounce.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman
