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Gold daily chart

  • Gold broke below 1,280.00 and the 100 and 200 simple moving averages (SMAs) suggesting that a correction down is underway.

Gold 4-hour chart

  • The Yellow Metal remains capped below 1,280.00 as it is trading below its main SMAs. All-in-all suggesting a bearish bias also in the medium-term.

 
Gold 30-minute chart

  • Gold is trading below its main SMAs suggesting a bearish momentum in the short-term.
  • A break below 1,270.00 can lead to 1,260.00 level and 1,247.00 support.  
  • Resistance is at 1,280.00 and 1,290.00 figure.

Additional key levels