On the last trading day of the week the price of gold peaked 4 weeks due to lower interest rates by the Bank of England. Decline in demand contributed to the positive news from the US labor market.
Positive mood changed to negative in this instrument. Gold futures fell and traded below 1350. Resistance is located at 1350 support - at 1330.
MACD is in the negative zone. Histogram decreased, which is a signal for sale. RSI Oscillator is close to oversold territory.
On the 4-hour chart, gold futures broke through the 50 EMA and the 100 EMA are tested. Price is trying to break through the 100 EMA, which is directed upwards.
Tool support approaching 1330 which limits reduction. Price resumes downtrend, if they fall below the current support.
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