Gold Price Analysis: XAU/USD sidelined into Friday, trades near $1475/oz


  • Gold is ending the week with gains while remaining confined to familiar ranges.
  • The level to beat for bulls is the 1480/85 resistance zone.
 

Gold daily chart

  
The theme of December has been a sideways consolidation so far. The metal is trapped in a range between the 1455 and 1485 levels while below the 50 and 100-day simple moving averages (DMAs). 
 

Gold four-hour chart 

 
If the buyers want to resume the longer-term bull trend, it will be interesting to see next week if the market can have a successful breakout above the 1480/85 resistance zone. On the way up, the main target is likely the 1515 resistance level. Support is seen at 1465 and the 1455/50 support zone. 
 
 

Additional key levels

XAU/USD

Overview
Today last price 1474.95
Today Daily Change 5.09
Today Daily Change % 0.35
Today daily open 1469.86
 
Trends
Daily SMA20 1466.3
Daily SMA50 1480.01
Daily SMA100 1489.18
Daily SMA200 1408.61
 
Levels
Previous Daily High 1486.58
Previous Daily Low 1464.84
Previous Weekly High 1484.06
Previous Weekly Low 1454.05
Previous Monthly High 1515.38
Previous Monthly Low 1445.8
Daily Fibonacci 38.2% 1473.15
Daily Fibonacci 61.8% 1478.28
Daily Pivot Point S1 1460.94
Daily Pivot Point S2 1452.03
Daily Pivot Point S3 1439.21
Daily Pivot Point R1 1482.68
Daily Pivot Point R2 1495.5
Daily Pivot Point R3 1504.41

 

 

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