Gold Technical Analysis: Struggles to build on positive momentum, upbeat NFP report capped gains

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   •  The precious metal managed to rebound from 50% Fibonacci retracement level of the $1180-$1243 recent upsurge on Wednesday, though struggled to build on the overnight upsurge following the release of upbeat NFP report.

   •  However, technical indicators on hourly/daily charts have been holding in bullish territory and support prospects for an extension of the positive momentum/additional intraday gains.

   •  Moreover, given that the commodity remains well above important intraday moving averages – 50, 100 & 200-hour SMAs, adds credence to the near-term constructive outlook.

Gold 4-hourly chart


	Gold Technical Analysis: Struggles to build on positive momentum, upbeat NFP report capped gains

XAU/USD

Overview:
    Last Price: 1233.45
    Daily change: 25 pips
    Daily change: 0.0203%
    Daily Open: 1233.2
Trends:
    Daily SMA20: 1226.46
    Daily SMA50: 1209.96
    Daily SMA100: 1207.03
    Daily SMA200: 1247.31
Levels:
    Daily High: 1237.6
    Daily Low: 1214.4
    Weekly High: 1243.43
    Weekly Low: 1219.9
    Monthly High: 1243.43
    Monthly Low: 1182.54
    Daily Fibonacci 38.2%: 1228.74
    Daily Fibonacci 61.8%: 1223.26
    Daily Pivot Point S1: 1219.2
    Daily Pivot Point S2: 1205.2
    Daily Pivot Point S3: 1196
    Daily Pivot Point R1: 1242.4
    Daily Pivot Point R2: 1251.6
    Daily Pivot Point R3: 1265.6

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