Gold technical analysis: Yellow metal is capped below $1,346.00/oz

Gold seems to have run out of steam below 1,346.00
A break below 1,320.00 would confirm the bearish case.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is consolidating the recent gains below the 1,346.00 resistance.

Gold 4-hour chart

Gold is trading above its main simple moving averages (SMAs) suggesting bullish pressure in the near term.

Gold 30-minute chart

Bulls will attempt to regain 1,338.00 to climb up to 1,346.00 resistance. On the flip side, sellers can try to break below 1,326.00 and 1,320.00 support to travel south near 1,303.00.

Additional key levels

XAU/USD

Overview
Today last price	1333.92
Today Daily Change	7.02
Today Daily Change %	0.53
Today daily open	1326.9

Trends
Daily SMA20	1300.1
Daily SMA50	1291.23
Daily SMA100	1299.59
Daily SMA200	1266.68

Levels
Previous Daily High	1329.92
Previous Daily Low	1319.99
Previous Weekly High	1348.12
Previous Weekly Low	1306.18
Previous Monthly High	1306.9
Previous Monthly Low	1266.35
Daily Fibonacci 38.2%	1323.78
Daily Fibonacci 61.8%	1326.12
Daily Pivot Point S1	1321.29
Daily Pivot Point S2	1315.68
Daily Pivot Point S3	1311.37
Daily Pivot Point R1	1331.22
Daily Pivot Point R2	1335.53
Daily Pivot Point R3	1341.14

Author

Flavio Tosti

Independent Analyst

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