XAUUSD is still trading close to $1200 psychological level but below it in its day number 5 of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today $1189.
XAUUSD retreated again for trading just below $1200, after failure to overcome its daily SMA50, while it is still undermined over longer range by continued being below its daily SMA100 and its daily SMA200.
XAUUSD found it easier to be traded aside near this level, after forming a higher low on last Aug. 24 at 1182.82 above its formed bottom on last Aug. 16 at 1160.24.
The daily chart of XAUUSD shows that its RSI-14 is in a closer place to the center of its neutral area reading 47.807.
XAUUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its neutral territory reading 38.738 and leading to the downside the signal line which is higher but close to it at 39.344 showing abating upside momentum, After negative crossover inside the neutral region.
Important levels: Daily SMA50 @ $1207, Daily SMA100 @ $1246 and Daily SMA200 @ $1284
The Closest Experienced S&R:
S1: $1182.82
S2: $1160.24
S3: $1146.00
R1: $1217.86
R2: $1235.12
R3: $1265.93
Have a good day
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din