Gold Technical Analysis: Yellow Metal remains capped by 1,280.00 resistance

Flavio Tosti Independent Analyst

Gold daily chart

Gold broke below 1,280.00 and the 100 and 200 simple moving averages (SMAs) suggesting that a correction down is underway.

Gold 4-hour chart

The Yellow Metal remains capped below 1,280.00 as it is trading below its main SMAs. All-in-all suggesting a bearish bias also in the medium-term.

Gold 30-minute chart

Gold is trading below its main SMAs suggesting a bearish momentum in the short-term.
A break below 1,270.00 can lead to 1,260.00 level and 1,247.00 support.
Resistance is at 1,280.00 and 1,290.00 figure.

Additional key levels

XAU/USD

Overview
Today last price	1274.61
Today Daily Change	0.18
Today Daily Change %	0.01
Today daily open	1274.43

Trends
Daily SMA20	1294.71
Daily SMA50	1303.99
Daily SMA100	1290.01
Daily SMA200	1249.22

Levels
Previous Daily High	1277.72
Previous Daily Low	1271.35
Previous Weekly High	1292.05
Previous Weekly Low	1271.1
Previous Monthly High	1327.8
Previous Monthly Low	1280.1
Daily Fibonacci 38.2%	1275.29
Daily Fibonacci 61.8%	1273.79
Daily Pivot Point S1	1271.28
Daily Pivot Point S2	1268.13
Daily Pivot Point S3	1264.9
Daily Pivot Point R1	1277.65
Daily Pivot Point R2	1280.88
Daily Pivot Point R3	1284.03

Author

Flavio Tosti

Independent Analyst

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