Gold break out is needed on Daily Chart
Gold break out is needed on Daily Chart; Gold prices are presently trading above 21 days, 45 days and 200 days SMA (Simple Moving Average), whereas last Friday, it closed below 9 days SMA ($1255). Daily candle closing below 21 days SMA i.e. $1237, is required for prices to touch $1178 (45 days SMA) and $1134 (200 days SMA).
Selling should be advisable on daily candle closing below $1237 (break out of 21 days SMA), whereas buying should be considered on daily candle closing above $1280.