Gold Technical Analysis: Correction up finds resistance at $1,280.00/oz


Gold daily chart

  • The yellow metal corrected part of the slide of the last weeks this Wednesday but found strong resistance at the 1,280.00 level.

Gold 4-hour chart

 

  • Gold is trading below its main SMAs suggesting a bearish bias in the medium-term.

 
Gold 30-minute chart

  • Gold is trading above its main SMAs suggesting a bullish correction in the short-term.
  • Bulls will defend 1,270.00 level while bears will try to break below it to reach 1,260.00 and 1,247.00 support to the downside. 
  • Key resistance is at 1,280.00 and then at 1,290.00 figure.


Additional key levels

XAU/USD

Overview
Today last price 1275.84
Today Daily Change 3.44
Today Daily Change % 0.27
Today daily open 1272.4
 
Trends
Daily SMA20 1290.27
Daily SMA50 1302.46
Daily SMA100 1290.94
Daily SMA200 1250.16
Levels
Previous Daily High 1276.53
Previous Daily Low 1266.5
Previous Weekly High 1292.05
Previous Weekly Low 1271.1
Previous Monthly High 1327.8
Previous Monthly Low 1280.1
Daily Fibonacci 38.2% 1270.33
Daily Fibonacci 61.8% 1272.7
Daily Pivot Point S1 1267.09
Daily Pivot Point S2 1261.78
Daily Pivot Point S3 1257.07
Daily Pivot Point R1 1277.12
Daily Pivot Point R2 1281.83
Daily Pivot Point R3 1287.14

 

 

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