Gold Technical Analysis: Big bears smash the Yellow Metal below $1,280.00/oz
Gold daily chart
- Gold is trading in a bull trend above the 200-period simple moving average (SMA).
- The US nonfarm payrolls (NFP) came in above the market forecast at 312K versus 177K which is potentially bullish for the US Dollar.
- Gold rejected $1,300.00 per ounce.
Gold 4-hour chart
- Gold erased the gains made at the start of 2019.
- Gold is currently testing the 50 SMA.
Gold 30-minute chart
- Gold broke below the 50, 100 and 200 SMAs as the bears are taking control.
- If sellers keep the momentum going then 1,270.00 and 1,265.00 are seen as potential bear targets next week.
- On the way up, 1,285.00 will likely act as resistance.
Additional key levels
Today Last Price: 1277.98
Today Daily change: -1.7e+3 pips
Today Daily change %: -1.30%
Today Daily Open: 1294.77
Previous Daily SMA20: 1261.04
Previous Daily SMA50: 1237.48
Previous Daily SMA100: 1223.18
Previous Daily SMA200: 1229.23
Previous Daily High: 1294.77
Previous Daily Low: 1282.44
Previous Weekly High: 1284.7
Previous Weekly Low: 1258.1
Previous Monthly High: 1284.7
Previous Monthly Low: 1221.39
Previous Daily Fibonacci 38.2%: 1290.06
Previous Daily Fibonacci 61.8%: 1287.15
Previous Daily Pivot Point S1: 1286.55
Previous Daily Pivot Point S2: 1278.33
Previous Daily Pivot Point S3: 1274.22
Previous Daily Pivot Point R1: 1298.88
Previous Daily Pivot Point R2: 1302.99
Previous Daily Pivot Point R3: 1311.21