Gold is under pressure below the 1480 resistance level. The level to beat for bears is the 1445 swing low. Gold weekly chart Gold is ending the week near its lowest point in 2-months while trading above its main SMAs on the weekly chart. Gold daily chart On the daily time frame, The precious metal is trading in a bull flag, making lower lows and lower highs while trading below the 50 and 100-day simple moving averages (DMAs). This week the 1480 resistance and the 100 SMA capped the upside. The bears are likely looking for a break below the 1445 swing low. If the breakdown is successful, the next main support on the way down is likely the 1400 handle. On the flip side, if the market breaks beyond the 1480 level, gold could attract further buying interest towards the 1520 level. Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BTC/USD Technical Analysis: Nice bounce off the intraday resistance point FX Street 3 years Gold is under pressure below the 1480 resistance level. The level to beat for bears is the 1445 swing low. Gold weekly chart Gold is ending the week near its lowest point in 2-months while trading above its main SMAs on the weekly chart. Gold daily chart On the daily time frame, The precious metal is trading in a bull flag, making lower lows and lower highs while trading below the 50 and 100-day simple moving averages (DMAs). This week the 1480 resistance and the 100 SMA capped the upside. The bears are likely… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
