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.
 

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

 

 

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