Gold Technical Analysis: Mission Accomplished for bears as the Yellow Metal hits 1,217.70 target
Daily chart
- Gold is trading in a bear trend below the 200-period simple moving average (SMAs).
- Gold hit the 1,217.70 bear target.
4-hour chart
- Gold is breaking below the 1,217.70 support potentially opening the doors to 1,211.00 target in the coming days.
- However, bears would need a close below 1,217.70 on a closing basis to see further losses.
30-minute chart
- Gold is back below its main SMAs as it reaching its lowest point in six days.
- Technical indicators are all bearish but bears will need to work hard if they do not want to see a reversal back up to 1,217.70 and 1,220.00 level.
Additional key levels
XAU/USD
Overview:
Today Last Price: 1215.86
Today Daily change: -6.3e+2 pips
Today Daily change %: -0.517%
Today Daily Open: 1222.18
Trends:
Previous Daily SMA20: 1218.96
Previous Daily SMA50: 1218.56
Previous Daily SMA100: 1207.46
Previous Daily SMA200: 1236.43
Levels:
Previous Daily High: 1228.04
Previous Daily Low: 1221.4
Previous Weekly High: 1230.3
Previous Weekly Low: 1217.7
Previous Monthly High: 1243.43
Previous Monthly Low: 1182.54
Previous Daily Fibonacci 38.2%: 1223.93
Previous Daily Fibonacci 61.8%: 1225.5
Previous Daily Pivot Point S1: 1219.71
Previous Daily Pivot Point S2: 1217.24
Previous Daily Pivot Point S3: 1213.07
Previous Daily Pivot Point R1: 1226.34
Previous Daily Pivot Point R2: 1230.51
Previous Daily Pivot Point R3: 1232.98