Gold Technical Analysis: Mission Accomplished for bears as the Yellow Metal hits 1,220.90 level
|- Gold is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart.
- Gold retraced to the 1,220.90 support level. Bulls might try to support the market here. The RSI, MACD and Stochastic indicators are negative suggesting potential continued bearish momentum.
- However, a break below the level can open the doors to 1,211.80 (October 31 low).
Main trend: Bullish
Resistance 1: 1,237.60 July 3 swing low
Resistance 2: 1,250.00 figure
Resistance 3: 1,265.90 July high
Resistance 4: 1,300.00 figure
Support 1: 1,220.90 July 18 low
Support 2: 1,211.80 October 31 low
Support 3: 1,204.10, August 3 swing low (key level)
Support 4: 1,182.90 August 24 low
Support 5: 1,172.82 current 2018 low
Additional key levels at a glance:
XAU/USD
Overview:
Last Price: 1223.58
Daily change: -2.5e+2 pips
Daily change: -0.203%
Daily Open: 1226.07
Trends:
Daily SMA20: 1227.93
Daily SMA50: 1212.41
Daily SMA100: 1207.17
Daily SMA200: 1244.95
Levels:
Daily High: 1236.6
Daily Low: 1222.7
Weekly High: 1237.6
Weekly Low: 1211.8
Monthly High: 1243.43
Monthly Low: 1182.54
Daily Fibonacci 38.2%: 1228.01
Daily Fibonacci 61.8%: 1231.29
Daily Pivot Point S1: 1220.31
Daily Pivot Point S2: 1214.56
Daily Pivot Point S3: 1206.41
Daily Pivot Point R1: 1234.21
Daily Pivot Point R2: 1242.36
Daily Pivot Point R3: 1248.11
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