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  • Gold trades a shade lower than the $1330 during the early Asian session on Wednesday.
  • On Tuesday, the bullion bounced off the thirteen-month-old descending trend-line support, previously acting as a resistance.
  • Considering the recent U-turn and a gradual increase in 14-day relative strength index (RSI), the quote is likely to revisit $1334, $1337 and $1346 nearby resistances.
  • In case buyers continue dominating past-$1346, $1357, $1362 and $1366 might appear on their radar.
  • Given the precious metal’s slide under $1322 support-line, an upward sloping trend-line at $1316 that joins lows marked since November 2018 becomes crucial for the traders.
  • Should there be a daily closing under $1316, $1302 and 50-day simple moving average (SMA) figure of $1297.85 may please the sellers.

Gold daily chart


       Today Last Price:  1328.81
       Today Daily change:  1.69  pips
       Today Daily change %:  0.13%
       Today Daily Open:  1327.12
       Daily SMA20:  1319.06
       Daily SMA50:  1295.9
       Daily SMA100:  1261.29
       Daily SMA200:  1234.89
       Previous Daily High:  1332.58
       Previous Daily Low:  1325.32
       Previous Weekly High:  1346.85
       Previous Weekly Low:  1320.72
       Previous Monthly High:  1326.25
       Previous Monthly Low:  1275.9
       Daily Fibonacci 38.2%:  1328.1
       Daily Fibonacci 61.8%:  1329.81
       Daily Pivot Point S1:  1324.11
       Daily Pivot Point S2:  1321.09
       Daily Pivot Point S3:  1316.85
       Daily Pivot Point R1:  1331.36
       Daily Pivot Point R2:  1335.6
       Daily Pivot Point R3:  1338.62