Gold price analysis: XAU/USD bulls giving up near $1480/0z?
Gold daily chart
Gold four-hour chart
The metal is consolidating Tuesday’s gains near the 1480 resistance and the 200 SMA. If buyers overcome the 1485 resistance, XAU/USD could grind up towards 1493 and 1520 if the market gathers enough momentum. Support is seen at the 1472 and 1465 level.
Gold drops within bullish territory, trade war uncertainties and soft USD prevail
The value of an ounce of gold dropped on Wednesday following a Bloomberg report. The report indicated that a trade deal between the US and China was in the making. The news comes despite a series of prior and less promising headlines stemming from US President Donald Trump's 'chess-play' in signing the Hong Kong Human Rights and Democracy Act, legislation supporting protesters in the territory.
|Today last price||1474.04|
|Today Daily Change||-3.16|
|Today Daily Change %||-0.21|
|Today daily open||1477.2|
|Previous Daily High||1481.7|
|Previous Daily Low||1459.92|
|Previous Weekly High||1466.62|
|Previous Weekly Low||1450.74|
|Previous Monthly High||1515.38|
|Previous Monthly Low||1445.8|
|Daily Fibonacci 38.2%||1473.38|
|Daily Fibonacci 61.8%||1468.24|
|Daily Pivot Point S1||1464.18|
|Daily Pivot Point S2||1451.16|
|Daily Pivot Point S3||1442.4|
|Daily Pivot Point R1||1485.96|
|Daily Pivot Point R2||1494.72|
|Daily Pivot Point R3||1507.74|
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