Gold technical analysis: Yellow metal clings to 6-year highs above $1,500.00/oz

The risk-aversion mood keeps gold near 6-year highs.
The level to beat for buyers is 1,510.16, the 2019 high.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is hovering near 6-year highs as the risk-off mood keep the demand for the safe-haven metal high.

Gold 4-hour chart

The yellow metal bulls will need to break above $1,510.16 a troy ounce, the current 2019 high, to continue the march north towards 1,530.00 and 1,555.00 resistances. Gold is trading above its primary simple moving averages, suggesting bullish momentum in the medium term. Supports are seen at the 1,477.00 and the 1,454.00 levels.

Additional key levels

XAU/USD

Overview
Today last price	1506.2
Today Daily Change	10.37
Today Daily Change %	0.69
Today daily open	1495.83

Trends
Daily SMA20	1440.69
Daily SMA50	1402.37
Daily SMA100	1344.97
Daily SMA200	1309.76

Levels
Previous Daily High	1508.2
Previous Daily Low	1495
Previous Weekly High	1510.16
Previous Weekly Low	1436.96
Previous Monthly High	1452.72
Previous Monthly Low	1382.02
Daily Fibonacci 38.2%	1500.04
Daily Fibonacci 61.8%	1503.16
Daily Pivot Point S1	1491.15
Daily Pivot Point S2	1486.48
Daily Pivot Point S3	1477.95
Daily Pivot Point R1	1504.35
Daily Pivot Point R2	1512.88
Daily Pivot Point R3	1517.55

Author

Flavio Tosti

Independent Analyst

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