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2 Dec 2019
Gold Technical Analysis: Metal remains undecided below the 1465 level
- The yellow metal is looking for directions in the New York session.
- The market is focusing on the 1465 level, which is a critical resistance in the medium term.
Gold daily chart
Gold is starting December pressuring the 1465 resistance level while below the 50/100 SMAs. However, the bear case would entail a break below the 1445 swing low on a daily closing basis for a potential dive to the 1400 figure near the 200-day SMA.
Gold four-hour chart
The metal is challenging the 50 and 100 SMAs as the market is trying to find a clear direction hovering above the November lows. A break above the 1465 resistance can lead to further buying interest towards the 1480 level.
Additional key levels