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.

 

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

 

 

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