Gold technical analysis: Yellow Metal under pressure below 1,280.00 resistance

Flavio Tosti Independent Analyst

Gold daily chart

Gold is trading below 1,280.00 resistance and the 50 and 100-period simple moving averages (SMAs).

Gold 4-hour chart

Gold is trading below its main SMAs suggesting bearish momentum in the medium term.

Gold 30-minute chart

The market is trading below 1,277.00 resistance and its main SMAs suggesting bearish momentum in the near term. If bears break 1,272.50 support the market can continue to drop towards 1,270.00 and potentially to 1,266.00 if the bears gather enough steam. Resistances are at 1,277.50 and 1,280.00 levels.

Additional key levels

XAU/USD

Overview
Today last price	1273.8
Today Daily Change	-1.01
Today Daily Change %	-0.08
Today daily open	1274.81

Trends
Daily SMA20	1283.08
Daily SMA50	1290.86
Daily SMA100	1296.82
Daily SMA200	1258.64

Levels
Previous Daily High	1297.8
Previous Daily Low	1269.65
Previous Weekly High	1311.8
Previous Weekly Low	1275.09
Previous Monthly High	1310.7
Previous Monthly Low	1265.6
Daily Fibonacci 38.2%	1280.4
Daily Fibonacci 61.8%	1287.05
Daily Pivot Point S1	1263.71
Daily Pivot Point S2	1252.6
Daily Pivot Point S3	1235.56
Daily Pivot Point R1	1291.86
Daily Pivot Point R2	1308.9
Daily Pivot Point R3	1320.01

Author

Flavio Tosti

Independent Analyst

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