Gold technical analysis: Yellow metal ending the week on a weak note below $1,530.00/oz

Gold is ending the week below the 1,530.00 level.
The level to beat for sellers is $1,510.00/oz and 1,490.00 support.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is trading in a bull trend above its main daily simple moving averages. The yellow metal is off multi-year highs after peaking at 1,554.63 on Monday, ending the week on a weak tone.

Gold 4-hour chart

Gold is trading above 1,510.00 support and its main SMAs, suggesting bullish momentum in the medium term. However, bulls need to reclaim the 1,530.00 and 1,550.00 levels on the way up.

Gold 30-minute chart

Gold has found no acceptance above 1,530.00 and the main SMAs. If the sellers keep the pressure on, the market could reach 1,510.00 and 1,490.00 to the downside.

Additional key levels

XAU/USD

Overview
Today last price	1524.28
Today Daily Change	-3.28
Today Daily Change %	-0.21
Today daily open	1527.56

Trends
Daily SMA20	1505.56
Daily SMA50	1451.75
Daily SMA100	1375.31
Daily SMA200	1330.84

Levels
Previous Daily High	1550.2
Previous Daily Low	1520.2
Previous Weekly High	1530.05
Previous Weekly Low	1492.65
Previous Monthly High	1452.72
Previous Monthly Low	1382.02
Daily Fibonacci 38.2%	1531.66
Daily Fibonacci 61.8%	1538.74
Daily Pivot Point S1	1515.1
Daily Pivot Point S2	1502.65
Daily Pivot Point S3	1485.1
Daily Pivot Point R1	1545.1
Daily Pivot Point R2	1562.65
Daily Pivot Point R3	1575.1

Author

Flavio Tosti

Independent Analyst

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