Gold technical analysis: The yellow metal is nearing $1,500/oz

Gold is in consolidation mode, trading below the 1,500 mark.
A daily close above 1,500 can lead to a run towards 1,510/1520 price levels.

Flavio Tosti Independent Analyst

Gold daily chart

The yellow metal is trading in a bull trend above the 100 and 200-day simple moving averages (SMAs). In the last weeks, the market has been consolidating near $1,500 per ounce and the 50 SMA.

Gold four-hour chart

The yellow metal is trading below the 200-period simple moving average (SMA) and below the 1,500 mark; all-in-all suggesting a bearish bias in the medium term. A break below $1,490 a troy once can expose the 1,460 swing low. On the flip side, a daily close above 1,500 could trigger a bull run towards the 1,510/1,520 resistance levels

Additional key levels

XAU/USD

Overview
Today last price	1496.2
Today Daily Change	6.20
Today Daily Change %	0.42
Today daily open	1490

Trends
Daily SMA20	1499.44
Daily SMA50	1507.16
Daily SMA100	1450.74
Daily SMA200	1373.59

Levels
Previous Daily High	1491.35
Previous Daily Low	1477.15
Previous Weekly High	1516.85
Previous Weekly Low	1474.2
Previous Monthly High	1557.03
Previous Monthly Low	1464.61
Daily Fibonacci 38.2%	1485.93
Daily Fibonacci 61.8%	1482.57
Daily Pivot Point S1	1480.98
Daily Pivot Point S2	1471.96
Daily Pivot Point S3	1466.78
Daily Pivot Point R1	1495.18
Daily Pivot Point R2	1500.36
Daily Pivot Point R3	1509.38

Author

Flavio Tosti

Independent Analyst

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