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Gold Technical Analysis: Yellow Metal en route to $1,289.00/oz

Gold daily chart

  • Gold is trading in a bull trend above its main simple moving averages (SMAs). 

Gold 4-hour chart

  • Gold is trading above the main SMAs but currently capped by the 1,297.00 resistance. 

Gold 30-minute chart

  • As bears are losing steam below the 50 and 100 SMA, the metal is likely to decline to the 1,288.75 target.
  • On the flip side, Resistance is seen at the 1297.00 level.

Additional key levels

XAU/USD

Overview:
    Today Last Price: 1291.6
    Today Daily change: -150 pips
    Today Daily change %: -0.116%
    Today Daily Open: 1293.1
Trends:
    Daily SMA20: 1281.08
    Daily SMA50: 1249.37
    Daily SMA100: 1231.38
    Daily SMA200: 1228.91
Levels:
    Previous Daily High: 1295.25
    Previous Daily Low: 1276.2
    Previous Weekly High: 1297.15
    Previous Weekly Low: 1279.35
    Previous Monthly High: 1284.7
    Previous Monthly Low: 1221.39
    Daily Fibonacci 38.2%: 1287.97
    Daily Fibonacci 61.8%: 1283.48
    Daily Pivot Point S1: 1281.12
    Daily Pivot Point S2: 1269.14
    Daily Pivot Point S3: 1262.07
    Daily Pivot Point R1: 1300.17
    Daily Pivot Point R2: 1307.23
    Daily Pivot Point R3: 1319.22

 

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