Gold Technical Analysis: Metal remains undecided below the 1465 level

Gold is starting December pressuring the 1465 resistance level while below the 50/100 SMAs. However, the bear case would entail a break below the 1445 swing low on a daily closing basis for a potential dive to the 1400 figure near the 200-day SMA.

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Someone Is Betting On $4,000 Gold

Gold got an opportunity to trade without the price manipulators breathing down Gold's rise... And so the shiny metal, even with little volume, found a way to end the week up about $10 from where I last talked to you last Tuesday... I would have like to have seen Gold's move be greater in numbers without the price manipulators, but I'll take $10 and be a happy camper! But guess who's back at their desks today? And from the looks of it, they are already catching up, as Gold is down $6.40 in the early trading this morning...

Speaking of Gold... Jared Dillian of the 10th Man newsletter recently ran a survey, and among the questions he asked, was this one: What do you think the best medium term investment is with a time horizon of 4 years? Of individual stocks, mutual funds/ index funds, real estate, bonds, savings/cd's, and Gold, guess which one was the leader? That's right Gold! Gold beat individual stocks! Now that was a survey of 10,000 responses... I guess he asked the right people, because, from my view in the cheap seats, I would think the average joe six pack would say individual stocks, and not Gold...

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XAU/USD

Overview
Today last price 1464.26
Today Daily Change 0.32
Today Daily Change % 0.02
Today daily open 1463.94
 
Trends
Daily SMA20 1468.19
Daily SMA50 1485.89
Daily SMA100 1484.97
Daily SMA200 1401.35
 
Levels
Previous Daily High 1466.62
Previous Daily Low 1453.1
Previous Weekly High 1466.62
Previous Weekly Low 1450.74
Previous Monthly High 1515.38
Previous Monthly Low 1445.8
Daily Fibonacci 38.2% 1461.45
Daily Fibonacci 61.8% 1458.26
Daily Pivot Point S1 1455.82
Daily Pivot Point S2 1447.7
Daily Pivot Point S3 1442.3
Daily Pivot Point R1 1469.33
Daily Pivot Point R2 1474.73
Daily Pivot Point R3 1482.85

 

 

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