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Gold Technical Analysis: Metal drops to session lows near $1455/oz, post-US GDP

 

Gold daily chart

Gold is nearing the 1445 support level while trading below the 50 and 100 SMAs on the daily chart. A break below the 1445 swing low could drive the market to the next main support located near the 1400 handle. US: GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected.
 

Gold four-hour chart 

The market is under pressure while below the main SMAs. The 1445 level is likely on the bears’ radar in the medium term. Immediate resistance is seen at the 1465 level.
 

Additional key levels

XAU/USD

Overview
Today last price1455.1
Today Daily Change-7.50
Today Daily Change %-0.51
Today daily open1462.6
 
Trends
Daily SMA201475.59
Daily SMA501488.59
Daily SMA1001483.6
Daily SMA2001399.5
 
Levels
Previous Daily High1462.65
Previous Daily Low1450.74
Previous Weekly High1478.86
Previous Weekly Low1456.54
Previous Monthly High1519.04
Previous Monthly Low1455.5
Daily Fibonacci 38.2%1458.1
Daily Fibonacci 61.8%1455.29
Daily Pivot Point S11454.67
Daily Pivot Point S21446.75
Daily Pivot Point S31442.76
Daily Pivot Point R11466.59
Daily Pivot Point R21470.58
Daily Pivot Point R31478.5

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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