Gold Technical Analysis: The precious metal enters Asia below $1460/oz

The yellow metal is under bearish pressure as theNew York session comes to an end.
The outlook remains negative in the medium term.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is trading below the 50 and 100 SMAs on the daily chart while nearing the 1445 swing low. A break below this level could send the market down near the 1400 handle. Earlier in the New York session, the GDP expanded 2.1% in Q3 (second estimate) vs. 1.9% expected, weighing on XAU/USD.

Gold four-hour chart

The market remains under pressure while drifting below the main SMAs. As the metal remains weak, the 1445 level is likely on the bears’ radar in the medium term. Immediate resistance can be located at the 1465 and 1480 levels.

Additional key levels

XAU/USD

Overview
Today last price	1454.55
Today Daily Change	-8.05
Today Daily Change %	-0.55
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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