TRENDING:

XAU/USD

Silver

Gold Price Analysis: XAU/USD tumbles to fresh 2020 lows amid stock market crash, nearing $1500/oz

XAU/USD is about to end the London session near 2020 lows.
Further weakness could be expected in the short term.

Flavio Tosti Independent Analyst

XAU/USD daily chart

Gold is trading in a bull trend above the main SMAs however the metal is retracing down sharply from the 2020 tops, now challenging the 1540 level and the 100 SMA on the daily chart. Gold is trading down as stock markets worldwide suffered one the worst week in history.

XAU/USD four-hour chart

The precious metal broke below the 1548/1557 support zone and the main SMAs on the four-hour chart. As bears are in control the metal could potentially extend losses towards the 1500 and 1480 levels. Resistance can be expected in the 1548/1557 price zone.

Resistance: 1548, 1557, 1585

Support: 1530, 1500, 1480

Additional key levels

XAU/USD

Overview

Today last price

1544.08

Today Daily Change

-32.46

Today Daily Change %

-2.06

Today daily open

1576.54

Trends

Daily SMA20

1626.64

Daily SMA50

1589.41

Daily SMA100

1535.07

Daily SMA200

1498.11

Levels

Previous Daily High

1650.6

Previous Daily Low

1560.74

Previous Weekly High

1692.34

Previous Weekly Low

1575.58

Previous Monthly High

1689.4

Previous Monthly Low

1547.56

Daily Fibonacci 38.2%

1595.07

Daily Fibonacci 61.8%

1616.27

Daily Pivot Point S1

1541.32

Daily Pivot Point S2

1506.1

Daily Pivot Point S3

1451.46

Daily Pivot Point R1

1631.18

Daily Pivot Point R2

1685.82

Daily Pivot Point R3

1721.04

Author

Flavio Tosti

Independent Analyst

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