Day trading pre-market open November 28, page-60

Gold just touched off yesterday's high at $2018 then instant rejection back to $2014 not done yet bullish momentum still in play long on that pull back new high on the horizon. Break above $2018 for lift off.

Gold climbs to a six-month highs near $2,015 on the USD weakness, eyes on the US data

Gold extends the rally above the $2,000 key level during the early Asian trading hours on Tuesday. The yellow metal climbs to a six-month high amid the softer US Dollar and the lower US Treasury bond yields. XAU/USD price trades near $2,015, losing 0.01% on the day.

Technical Overview

2,015.36

XAU/USD

Auto Trend Lines

SMA (200,0)

SMA (100,0)

EMA (50,0)

The daily chart for XAU/USD supports another leg north, as it posted a third consecutive higher high and higher low. The bright metal develops well above directionless moving averages, with the 20 Simple Moving Average currently at around $1,976. Meanwhile, technical indicators aim north within positive levels and at fresh one-month highs, in line with the current upward momentum.

In the near term, and according to the 4-hour chart, XAU/USD is neutral-to-bullish. Gold stands well above a bullish 20 SMA, while the longer ones advance with uneven strength far below the shorter one. Technical indicators, however, lack directional strength but remain within positive levels, skew