Gold Technical Analysis: Metal rebounds sharply from daily lows, nearing $1465/oz

The yellow metal erases daily losses and bounces from the November low.
The market is approaching the 1465 level, which is an important resistance.

Flavio Tosti Independent Analyst

Gold daily chart

On the daily chart, gold stays under mild selling pressure near the November lows while trading below the 1465 resistance level and the 50/100 SMAs. However, the bears need a break below the 1445 swing low on a daily closing basis to drive the market towards the 1400 figure near the 200-day SMA.

Gold four-hour chart

The market is rebounding while staying below the 1465 resistance and the main SMAs. If the market fades the 1465 level then a retest of the 1445 support remains on the sellers’ radar in the medium term.

Alternatively, a breakout above the 1465 level can expose the 1480 resistance on the way up.

Additional key levels

EUR/USD

Overview
Today last price	1.1028
Today Daily Change	0.0019
Today Daily Change %	0.17
Today daily open	1.1009

Trends
Daily SMA20	1.1049
Daily SMA50	1.1041
Daily SMA100	1.1078
Daily SMA200	1.1167

Levels
Previous Daily High	1.102
Previous Daily Low	1.0998
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1011
Daily Fibonacci 61.8%	1.1006
Daily Pivot Point S1	1.0998
Daily Pivot Point S2	1.0987
Daily Pivot Point S3	1.0976
Daily Pivot Point R1	1.102
Daily Pivot Point R2	1.1031
Daily Pivot Point R3	1.1042

Author

Flavio Tosti

Independent Analyst

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