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Gold Price Analysis: XAU/USD ends the week above the $1570/oz level

  • Bulls broke above 1570 on a daily closing basis. 
  • Bulls will likely set their eyes on the 1580 and 1600 levels. 
 

Gold daily chart

 
XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After failing near the 1600 figure earlier in the month, the metal has been consolidating near the $1560 per troy ounce. 
 

Gold four-hour chart

 
Gold broke above the 1570 resistance on a daily basis. Bulls will likely set their eyes on the 1580 and 1600 levels. Support is seen at 1570 and 1563 levels. 
 

Additional key levels

XAU/USD

Overview
Today last price1564.24
Today Daily Change1.70
Today Daily Change %0.11
Today daily open1562.54
 
Trends
Daily SMA201547.56
Daily SMA501502.62
Daily SMA1001498.07
Daily SMA2001442.94
 
Levels
Previous Daily High1567.99
Previous Daily Low1551.94
Previous Weekly High1562
Previous Weekly Low1536.35
Previous Monthly High1525.1
Previous Monthly Low1454.05
Daily Fibonacci 38.2%1561.86
Daily Fibonacci 61.8%1558.07
Daily Pivot Point S11553.66
Daily Pivot Point S21544.77
Daily Pivot Point S31537.61
Daily Pivot Point R11569.71
Daily Pivot Point R21576.87
Daily Pivot Point R31585.76

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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