Gold Technical Analysis: Gold bulls optimistic above the 200-day simple moving average - $1,230.00/oz bear target
|Gold daily chart
- Gold broke above the 200-day simple moving average (SMA) which is considered bullish.
- Technical indicators are bullish.
- Wednesday is an inside day.
Gold 4-hour chart
- Gold is trading above its main SMAs.
- 1,244.00 is the strong resistance to overcome for further bullish advances.
- Failure to do so would lead to a pullback to 1,230.00 in the coming sessions.
Gold 30-minute chart
- Gold pulled back to the 50 and 100 SMA as the market is decelerating.
- While there might be a spike to 1,244.00, it is more likely that the market will correct to 1.230.00
- The correction to 1,230.00 might take place even after a potential spike up to 1,244.00.
Additional key levels
XAU/USD
Overview:
Today Last Price: 1237.74
Today Daily change: -37 pips
Today Daily change %: -0.0299%
Today Daily Open: 1238.11
Trends:
Previous Daily SMA20: 1218.99
Previous Daily SMA50: 1221.7
Previous Daily SMA100: 1209.9
Previous Daily SMA200: 1233.72
Levels:
Previous Daily High: 1241.9
Previous Daily Low: 1230.6
Previous Weekly High: 1231.8
Previous Weekly Low: 1211.2
Previous Monthly High: 1237.4
Previous Monthly Low: 1196.4
Previous Daily Fibonacci 38.2%: 1237.58
Previous Daily Fibonacci 61.8%: 1234.91
Previous Daily Pivot Point S1: 1231.84
Previous Daily Pivot Point S2: 1225.56
Previous Daily Pivot Point S3: 1220.53
Previous Daily Pivot Point R1: 1243.14
Previous Daily Pivot Point R2: 1248.17
Previous Daily Pivot Point R3: 1254.45
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.