- Gold is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart.
- Gold is retreating from daily highs and testing the 50 and 100 SMA as it broke below $1,230.00 a troy ounce. The RSI, MACD and Stochastic are decelerating suggesting further losses ahead.
- The next objective for bears is likely located near 1,220.90 (July 18 low).
Gold 4-hour chart
Main trend: Bullish
Resistance 1: 1,237.60 July 3 swing low
Resistance 2: 1,250.00 figure
Resistance 3: 1,265.90 July high
Resistance 4: 1,300.00 figure
Support 1: 1,220.90 July 18 low
Support 2: 1,211.17 July 19 low
Support 3: 1,204.10, August 3 swing low (key level)
Support 4: 1,182.90 August 24 low
Support 5: 1,172.82 current 2018 low
Additional key levels at a glance:
XAU/USD
Overview:
Last Price: 1228.6
Daily change: 2.0e+2 pips
Daily change: 0.161%
Daily Open: 1226.62
Trends:
Daily SMA20: 1227.86
Daily SMA50: 1211.76
Daily SMA100: 1207.15
Daily SMA200: 1245.57
Levels:
Daily High: 1235.94
Daily Low: 1223.2
Weekly High: 1237.6
Weekly Low: 1211.8
Monthly High: 1243.43
Monthly Low: 1182.54
Daily Fibonacci 38.2%: 1228.07
Daily Fibonacci 61.8%: 1231.07
Daily Pivot Point S1: 1221.23
Daily Pivot Point S2: 1215.85
Daily Pivot Point S3: 1208.49
Daily Pivot Point R1: 1233.97
Daily Pivot Point R2: 1241.33
Daily Pivot Point R3: 1246.71