Gold - Risk Reversal Level of 5 Months (Low)

• Due to the reversal of risk, increasing demand for plates shows
• Falls near gold near October

Beginning of this week from gold (XAU / USD) 200-day MA and a low of $ 1260, a step in October has resumed the demand for a slowdown bet on the yellow metal.

One month's 25 delta risk gauge collapsed at -0.85; The lowest level since July 14. This shows the increasing demand for gold (XAU)

As a writer, gold is trading at $ 1263 / oz level. The failure of the $ 1300 repeated failure at the end of November eventually altered the tables in favor of the bear. Prices closed down on Tuesday under the 200-day MA, nevertheless, the metal has been able to defend the October 1260 price support.

However, increasing demand for put options means that support can be dissolved soon.

Gold Technical Level -

The break below $ 1260 could be sold to sell (October low) to $ 1254.16 (August 4 less) and $ 1249.94 (August 8). On the high side, $ 1267 (200 days of MA) violates resistance to $ 1278 (10 days MA) and $ 1280 (50 days MA).