News

Gold Technical Analysis: XAU/USD enters Asia clinging to three-weeks highs near 1480 level

  • Gold is trading at its highest in the last three weeks.
  • The level to beat for buyers is the 1480 resistance.
 

Gold daily chart

 
Gold bounced sharply from the November lows while breaking above the 1465 resistance level. The market is trading below the 50 and 100-day simple moving averages (SMAs). 
  

Gold four-hour chart 

 
The metal is testing the 1480 resistance and the 200 SMA. A break above this level can send gold up towards 1493 and 1520 if the buyers gather enough momentum. Support is seen at the 1465 level.
 

Additional key levels

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.