Gold Technical Analysis: XAU/USD rolling into Asia below $1465/oz

The yellow metal is starting December trapped in familiar ranges.
The key resistance to watch is the 1465 level.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is starting the last month of 2019, questioning the 1465 resistance level while trading below the 50/100-day simple moving averages (SMAs). However, the market would likely become strongly bearish below 1445 swing low on a daily closing basis as it could entail a dive to the 1400 figure near the 200-day SMA.

Gold four-hour chart

The metal is putting the 50 and 100 SMAs under pressure as the market is trying to break above the 1465 resistance. If the buyers are successful, it can lead to the market to the 1480 level in the medium term.

Additional key levels

XAU/USD

Overview
Today last price	1462.5
Today Daily Change	-1.44
Today Daily Change %	-0.10
Today daily open	1463.94

Trends
Daily SMA20	1468.19
Daily SMA50	1485.89
Daily SMA100	1484.97
Daily SMA200	1401.35

Levels
Previous Daily High	1466.62
Previous Daily Low	1453.1
Previous Weekly High	1466.62
Previous Weekly Low	1450.74
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1461.45
Daily Fibonacci 61.8%	1458.26
Daily Pivot Point S1	1455.82
Daily Pivot Point S2	1447.7
Daily Pivot Point S3	1442.3
Daily Pivot Point R1	1469.33
Daily Pivot Point R2	1474.73
Daily Pivot Point R3	1482.85

Author

Flavio Tosti

Independent Analyst

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