Gold Technical Analysis: The precious metal is under pressure near four-month lows

The yellow metal remains under bearish pressure as the Thursday’s London session comes to an end.
The outlook for gold remains slightly bearish in the medium term.

Flavio Tosti Independent Analyst

Gold daily chart

On the daily time frame, gold is under pressure near the November lows while trading below the 1465 resistance and the 50 and 100 SMAs. If the sellers break the 1445 swing low, the market could decline further towards the 1400 psychological mark near the 200 daily SMA.

Gold four-hour chart

The market stays under pressure while trading below the main SMAs. As the metal remains on the back foot, the 1445 level remains on the bears’ 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	1456.16
Today Daily Change	1.25
Today Daily Change %	0.09
Today daily open	1454.91

Trends
Daily SMA20	1473.56
Daily SMA50	1487.81
Daily SMA100	1483.96
Daily SMA200	1400.07

Levels
Previous Daily High	1463
Previous Daily Low	1452.8
Previous Weekly High	1478.86
Previous Weekly Low	1456.54
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1456.7
Daily Fibonacci 61.8%	1459.11
Daily Pivot Point S1	1450.8
Daily Pivot Point S2	1446.7
Daily Pivot Point S3	1440.6
Daily Pivot Point R1	1461.01
Daily Pivot Point R2	1467.11
Daily Pivot Point R3	1471.22

Author

Flavio Tosti

Independent Analyst

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