Gold technical analysis: Yellow metal starts the week trading below the 1,500 mark

Optimism on trade talks is improving the market mood and lessening the demand for the safe-haven metal.
Gold is trading below the 1,500 psychological mark as the week is starting.

Flavio Tosti Independent Analyst

Gold four-hour chart

The yellow metal is trading below the 50,100 and 200-day simple moving average (SMA) while below the 1,500 mark; all-in-all suggesting a bearish bias in the medium term. A break below $1,475 a troy once can expose the 1,460 swing low. On the flip side, a daily close above 1,500 could spark some interest in the 1,510/1,520 resistance levels in the medium term.

Additional key levels

XAU/USD

Overview
Today last price	1492.11
Today Daily Change	3.21
Today Daily Change %	0.22
Today daily open	1488.9

Trends
Daily SMA20	1500.92
Daily SMA50	1506.68
Daily SMA100	1444.53
Daily SMA200	1370.57

Levels
Previous Daily High	1503.3
Previous Daily Low	1474.2
Previous Weekly High	1516.85
Previous Weekly Low	1474.2
Previous Monthly High	1557.03
Previous Monthly Low	1464.61
Daily Fibonacci 38.2%	1485.31
Daily Fibonacci 61.8%	1492.18
Daily Pivot Point S1	1474.3
Daily Pivot Point S2	1459.69
Daily Pivot Point S3	1445.19
Daily Pivot Point R1	1503.4
Daily Pivot Point R2	1517.9
Daily Pivot Point R3	1532.51

Author

Flavio Tosti

Independent Analyst

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