Gold technical analysis: The yellow metal is at the edge of a cliff


  • Gold ends the week on its lows as the market is off the 2019 highs.
  • The level to beat for bears is the 1,485 support level.
 

Gold daily chart

 
The yellow metal is trading in a bull trend above its main daily simple moving averages (SMAs). The market is challenging the 1,485 support above the 50 SMA. A break below the level can open the doors to a selloff towards the 1,400 figure. 
 
The first level of resistance is likely the 1,520.00 resistance followed by 1,560 near the 2019 high.

Additional key levels

XAU/USD

Overview
Today last price 1488.6
Today Daily Change -10.40
Today Daily Change % -0.69
Today daily open 1499
 
Trends
Daily SMA20 1516.89
Daily SMA50 1472.68
Daily SMA100 1398.93
Daily SMA200 1345.32
Levels
Previous Daily High 1523.3
Previous Daily Low 1489.25
Previous Weekly High 1557.03
Previous Weekly Low 1502.95
Previous Monthly High 1554.63
Previous Monthly Low 1400.9
Daily Fibonacci 38.2% 1510.29
Daily Fibonacci 61.8% 1502.26
Daily Pivot Point S1 1484.4
Daily Pivot Point S2 1469.8
Daily Pivot Point S3 1450.35
Daily Pivot Point R1 1518.45
Daily Pivot Point R2 1537.9
Daily Pivot Point R3 1552.5

 

 

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