Gold technical analysis: Bulls showing lack of commitments


The precious metal's prices have consolidated in 1381 and 1439. There are a series of bearish pin bars on the daily charts, signifying resistance and lack of commitment from the buyers. The 20-day moving average supports but on a break lower, bears would target a 50% retracement of the April swing lows to late June swing highs around 1352. On the flipside, however, bulls broke the 1410 level and marked 1418 tops. Bulls can look ahead to the 1440 key resistance which makes way for a continuation to the May 2012 lows at 1527.
 

XAU/USD

Overview
Today last price 1404.79
Today Daily Change -14.17
Today Daily Change % -1.00
Today daily open 1418.96
 
Trends
Daily SMA20 1392.03
Daily SMA50 1334.83
Daily SMA100 1316.18
Daily SMA200 1286.6
Levels
Previous Daily High 1419
Previous Daily Low 1390.08
Previous Weekly High 1436.2
Previous Weekly Low 1382.02
Previous Monthly High 1438.66
Previous Monthly Low 1306.18
Daily Fibonacci 38.2% 1407.95
Daily Fibonacci 61.8% 1401.12
Daily Pivot Point S1 1399.69
Daily Pivot Point S2 1380.42
Daily Pivot Point S3 1370.76
Daily Pivot Point R1 1428.62
Daily Pivot Point R2 1438.27
Daily Pivot Point R3 1457.54

 

 

 

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