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Gold Technical Analysis: The precious metal is under pressure near four-month lows

  • The yellow metal remains under bearish pressure as the Thursday’s London session comes to an end. 
  • The outlook for gold remains slightly bearish in the medium term.
 

Gold daily chart

 
On the daily time frame, gold is under pressure near the November lows while trading below the 1465 resistance and the 50 and 100 SMAs. If the sellers break the 1445 swing low, the market could decline further towards the 1400 psychological mark near the 200 daily SMA.  
 

Gold four-hour chart 

 
The market stays under pressure while trading below the main SMAs. As the metal remains on the back foot, the 1445 level remains on the bears’ radar in the medium term. Immediate resistance can be seen near the 1465 and 1480 levels.
 

Additional key levels

XAU/USD

Overview
Today last price 1456.16
Today Daily Change 1.25
Today Daily Change % 0.09
Today daily open 1454.91
 
Trends
Daily SMA20 1473.56
Daily SMA50 1487.81
Daily SMA100 1483.96
Daily SMA200 1400.07
 
Levels
Previous Daily High 1463
Previous Daily Low 1452.8
Previous Weekly High 1478.86
Previous Weekly Low 1456.54
Previous Monthly High 1519.04
Previous Monthly Low 1455.5
Daily Fibonacci 38.2% 1456.7
Daily Fibonacci 61.8% 1459.11
Daily Pivot Point S1 1450.8
Daily Pivot Point S2 1446.7
Daily Pivot Point S3 1440.6
Daily Pivot Point R1 1461.01
Daily Pivot Point R2 1467.11
Daily Pivot Point R3 1471.22

 

 

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