Gold Technical Analysis: Yellow metal losing its shine below the 1480 resistance


  • Gold is losing steam below the 1480 resistance level.
  • The level to beat for sellers is the 1445 swing low.
 

Gold daily chart

 
The yellow metal is trading in a bull flag with lower lows and lower highs as it trading below the 50 and 100-day simple moving averages (DMAs). The 1480 resistance and the 100 SMA are currently capping the upside. 
 
The sellers want a break below the 1445 swing low. The next main support on the way down is likely the 1400 handle. 
 
Alternatively, if the market breaks above the 1480 level, the metal could attract further buying interest towards the 1520 level. 
 

Additional key levels

XAU/USD

Overview
Today last price 1464.7
Today Daily Change -8.27
Today Daily Change % -0.56
Today daily open 1472.97
 
Trends
Daily SMA20 1482.74
Daily SMA50 1491.44
Daily SMA100 1481.25
Daily SMA200 1396.66
 
Levels
Previous Daily High 1478.86
Previous Daily Low 1466.12
Previous Weekly High 1474.6
Previous Weekly Low 1445.8
Previous Monthly High 1519.04
Previous Monthly Low 1455.5
Daily Fibonacci 38.2% 1473.99
Daily Fibonacci 61.8% 1470.98
Daily Pivot Point S1 1466.44
Daily Pivot Point S2 1459.9
Daily Pivot Point S3 1453.69
Daily Pivot Point R1 1479.18
Daily Pivot Point R2 1485.39
Daily Pivot Point R3 1491.93

 

 

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