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Gold Technical Analysis: Yellow Metal drops to 9-day’s lows

Gold daily chart

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

Gold 4-hour chart

  • Gold is trading between the 100 and 200 SMAs suggesting a consolidation phase in the medium-term.

Gold 30-minute chart

  • Gold reached the 1,314.00 bear target discussed on Wednesday as the market is trading below its main SMAs.
  • The Yellow Metal is quite weak in the short-term and could slip further to 1,310.00 and $1,304.00/oz support.
  • Looking up, resistances are at 1,320.00, 1,325.00 figure and 1,332.00 level.


Additional key levels  

XAU/USD

Overview:
       Today Last Price:  1315.14
       Today Daily change:  -4.96 points
       Today Daily change %:  -0.38%
       Today Daily Open:  1320.1
Trends:
       Daily SMA20:  1320.01
       Daily SMA50:  1299.06
       Daily SMA100:  1263.27
       Daily SMA200:  1235.57
Levels:
       Previous Daily High:  1330.15
       Previous Daily Low:  1317.05
       Previous Weekly High:  1346.85
       Previous Weekly Low:  1320.72
       Previous Monthly High:  1326.25
       Previous Monthly Low:  1275.9
       Daily Fibonacci 38.2%:  1322.05
       Daily Fibonacci 61.8%:  1325.15
       Daily Pivot Point S1:  1314.72
       Daily Pivot Point S2:  1309.33
       Daily Pivot Point S3:  1301.62
       Daily Pivot Point R1:  1327.82
       Daily Pivot Point R2:  1335.53
       Daily Pivot Point R3:  1340.92

 

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