Gold Technical Analysis: Metal remains under precious below $1465/oz

The yellow metal remains under selling pressure on the last day of the month.
The 1445 level remains on the sellers’ radar.

Flavio Tosti Independent Analyst

Gold daily chart

On the daily chart, gold remains under 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. If so, the market could depreciate further towards the 1400 figure near the 200-day SMA.

Gold four-hour chart

The market is slowly drifting down while trading below the main SMAs. As XAU/USD remains soft, the 1445 level remains on the sellers’ radar in the medium term. Immediate resistance can be seen near the 1465 and 1480 levels.

Additional key levels

XAU/USD

Overview
Today last price	1454.68
Today Daily Change	-1.32
Today Daily Change %	-0.09
Today daily open	1456

Trends
Daily SMA20	1470.71
Daily SMA50	1486.95
Daily SMA100	1484.48
Daily SMA200	1400.65

Levels
Previous Daily High	1458.24
Previous Daily Low	1454
Previous Weekly High	1478.86
Previous Weekly Low	1456.54
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1456.62
Daily Fibonacci 61.8%	1455.62
Daily Pivot Point S1	1453.92
Daily Pivot Point S2	1451.84
Daily Pivot Point S3	1449.69
Daily Pivot Point R1	1458.16
Daily Pivot Point R2	1460.31
Daily Pivot Point R3	1462.39

Author

Flavio Tosti

Independent Analyst

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