- Gold maintains the range above 23.6% Fibonacci retracement since the week’s start.
- The yellow metal lacks the strength to cross key upside barriers holding the keys to monthly top.
Despite trading in a small range, Gold’s upside has fewer odds due to the key resistances standing untouched while the quote seesaws near $1,492 during early Friday.
Among the upside barriers, 200-bar Simple Moving Average (SMA) level of 1,503 and a falling trend line since September 04, at $1,510 now, comes nearby.
Should prices rally beyond $1,510, monthly top and 61.8% Fibonacci retracement of September-October declines, around $1,518/19, could question buyers targeting $1,535 and $1,557 numbers to the north.
Meanwhile, a downside break below 23.6% Fibonacci retracement level of $1,479.50 can take aim at $1,465 and month’s low of $1,459.
Gold 4-hour chart
additional important levels
|Today last price||1492.42|
|Today Daily Change||0.50|
|Today Daily Change %||0.03%|
|Today daily open||1491.92|
|Previous Daily High||1497.3|
|Previous Daily Low||1483.58|
|Previous Weekly High||1516.85|
|Previous Weekly Low||1474.2|
|Previous Monthly High||1557.03|
|Previous Monthly Low||1464.61|
|Daily Fibonacci 38.2%||1492.06|
|Daily Fibonacci 61.8%||1488.82|
|Daily Pivot Point S1||1484.56|
|Daily Pivot Point S2||1477.21|
|Daily Pivot Point S3||1470.84|
|Daily Pivot Point R1||1498.28|
|Daily Pivot Point R2||1504.66|
|Daily Pivot Point R3||1512.01|
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