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

The yellow metal is under bearish pressure in the New York session.
US: GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected.
The outlook stays bearish in the medium term.

Flavio Tosti Independent Analyst

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 price	1455.1
Today Daily Change	-7.50
Today Daily Change %	-0.51
Today daily open	1462.6

Trends
Daily SMA20	1475.59
Daily SMA50	1488.59
Daily SMA100	1483.6
Daily SMA200	1399.5

Levels
Previous Daily High	1462.65
Previous Daily Low	1450.74
Previous Weekly High	1478.86
Previous Weekly Low	1456.54
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1458.1
Daily Fibonacci 61.8%	1455.29
Daily Pivot Point S1	1454.67
Daily Pivot Point S2	1446.75
Daily Pivot Point S3	1442.76
Daily Pivot Point R1	1466.59
Daily Pivot Point R2	1470.58
Daily Pivot Point R3	1478.5

Author

Flavio Tosti

Independent Analyst

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