Gold Price Analysis: XAU/USD eases from $1,911/12 resistance confluence


  • Gold fades upside momentum while stepping back from the intraday high of $1,910.72.
  • 200-bar EMA, 50% Fibonacci retracement of September’s downside limit immediate upside.
  • Three-week-old support line restricts short-term declines below the $1,900 threshold.

Gold prices drop to $1,906.55, down 0.10% intraday, during early Friday. The bullion previously surged to Wednesday’s high but couldn’t clear a joint of the key EMA and Fibonacci retracement level.

However, normal RSI conditions and sustained trading above an ascending trend line from September 24 keeps the metal buyers hopeful.

As a result, the October 06 high near $1,921, followed by the 61.8% of Fibonacci retracement around $1,926 can pop-up on the gold bull’s radar after clearing the $1,911-12 immediate upside hurdle.

It should, however, be noted that the quote’s upside past-$1,926 will be questioned by the $1,932-33 area comprising late-September lows and the current month’s high.

Meanwhile, the $1,900 round-figure may entertain the intraday sellers ahead of probing them with a nearby rising support line, close to $1,891.

Though, a sustained break below $1,891 will make the gold prices vulnerable to plunge towards the monthly bottom around $1,873.

Gold four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 1907.88
Today Daily Change -0.82
Today Daily Change % -0.04%
Today daily open 1908.7
 
Trends
Daily SMA20 1897.6
Daily SMA50 1930.02
Daily SMA100 1869.92
Daily SMA200 1751.27
 
Levels
Previous Daily High 1909.02
Previous Daily Low 1889.64
Previous Weekly High 1930.62
Previous Weekly Low 1873.01
Previous Monthly High 1992.42
Previous Monthly Low 1848.82
Daily Fibonacci 38.2% 1901.62
Daily Fibonacci 61.8% 1897.04
Daily Pivot Point S1 1895.89
Daily Pivot Point S2 1883.07
Daily Pivot Point S3 1876.51
Daily Pivot Point R1 1915.27
Daily Pivot Point R2 1921.83
Daily Pivot Point R3 1934.65

 

 

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