Gold Technical Analysis: Slips below 200-hour SMA/38.2% Fibo. confluence support, turns vulnerable
5/6/2019 1:41:29 PM
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• The precious metal failed to preserve early gains, supported by negative US-China trade-related headlines, and once again started retreating from $

   •  The precious metal failed to preserve early gains, supported by negative US-China trade-related headlines, and once again started retreating from $1285-87 supply zone.

   •  The precious metal failed to preserve early gains, supported by negative US-China trade-related headlines, and once again started retreating from $1285-87 supply zone.

   •  Weakness below an intraday descending trend-channel was seen as a key trigger for bearish traders and the latest leg of the slide during the early North-American session.

   •  Weakness below an intraday descending trend-channel was seen as a key trigger for bearish traders and the latest leg of the slide during the early North-American session.

   •  A subsequent fall back below 200-hour SMA - coinciding with 38.2% Fibo. level of the $1266-$1286 up-move, now sets the stage for the resumption of the bearish trend.

   •  A subsequent fall back below 200-hour SMA - coinciding with 38.2% Fibo. level of the $1266-$1286 up-move, now sets the stage for the resumption of the bearish trend.

   •  Oscillators on hourly charts have again started gaining negative traction and maintained their bearish bias on the daily charts, adding credence to the negative outlook.

   •  Oscillators on hourly charts have again started gaining negative traction and maintained their bearish bias on the daily charts, adding credence to the negative outlook.

   •  Hence, a follow-through selling below 50% Fibo. level support might turn the commodity vulnerable to accelerate the slide towards $1273-72 support area en-route $1266 level.

   •  Hence, a follow-through selling below 50% Fibo. level support might turn the commodity vulnerable to accelerate the slide towards $1273-72 support area en-route $1266 level.

Gold 1-hourly chart

Gold 1-hourly chartGoldchart

XAU/USD

Overview
Today last price 1277.72
Today Daily Change -1.44
Today Daily Change % -0.11
Today daily open 1279.16
 
Trends
Daily SMA20 1283.46
Daily SMA50 1295.27
Daily SMA100 1293.88
Daily SMA200 1253.57
Levels
Previous Daily High 1287.8
Previous Daily Low 1268.8
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.54
Daily Fibonacci 61.8% 1276.06
Daily Pivot Point S1 1269.37
Daily Pivot Point S2 1259.59
Daily Pivot Point S3 1250.37
Daily Pivot Point R1 1288.37
Daily Pivot Point R2 1297.59
Daily Pivot Point R3 1307.37

 

XAU/USD

Overview
Today last price 1277.72
Today Daily Change -1.44
Today Daily Change % -0.11
Today daily open 1279.16
 
Trends
Daily SMA20 1283.46
Daily SMA50 1295.27
Daily SMA100 1293.88
Daily SMA200 1253.57
Levels
Previous Daily High 1287.8
Previous Daily Low 1268.8
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.54
Daily Fibonacci 61.8% 1276.06
Daily Pivot Point S1 1269.37
Daily Pivot Point S2 1259.59
Daily Pivot Point S3 1250.37
Daily Pivot Point R1 1288.37
Daily Pivot Point R2 1297.59
Daily Pivot Point R3 1307.37

XAU/USD

Overview
Today last price 1277.72
Today Daily Change -1.44
Today Daily Change % -0.11
Today daily open 1279.16
 
Trends
Daily SMA20 1283.46
Daily SMA50 1295.27
Daily SMA100 1293.88
Daily SMA200 1253.57
Levels
Previous Daily High 1287.8
Previous Daily Low 1268.8
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.54
Daily Fibonacci 61.8% 1276.06
Daily Pivot Point S1 1269.37
Daily Pivot Point S2 1259.59
Daily Pivot Point S3 1250.37
Daily Pivot Point R1 1288.37
Daily Pivot Point R2 1297.59
Daily Pivot Point R3 1307.37

XAU/USD

Overview
Today last price 1277.72
Today Daily Change -1.44
Today Daily Change % -0.11
Today daily open 1279.16
 
Trends
Daily SMA20 1283.46
Daily SMA50 1295.27
Daily SMA100 1293.88
Daily SMA200 1253.57
Overview
Today last price 1277.72
Today Daily Change -1.44
Today Daily Change % -0.11
Today daily open 1279.16
Overview Overview Overview Today last price 1277.72 Today Daily Change -1.44 Today Daily Change % -0.11 Today daily open 1279.16 Today last price 1277.72 Today last price1277.721277.72 Today Daily Change -1.44 Today Daily Change-1.44-1.44 Today Daily Change % -0.11 Today Daily Change %-0.11-0.11 Today daily open 1279.16 Today daily open1279.161279.16
 
Trends
Daily SMA20 1283.46
Daily SMA50 1295.27
Daily SMA100 1293.88
Daily SMA200 1253.57
Trends Trends Trends Daily SMA20 1283.46 Daily SMA50 1295.27 Daily SMA100 1293.88 Daily SMA200 1253.57 Daily SMA20 1283.46 Daily SMA201283.461283.46 Daily SMA50 1295.27 Daily SMA501295.271295.27 Daily SMA100 1293.88 Daily SMA1001293.881293.88 Daily SMA200 1253.57 Daily SMA2001253.571253.57
Levels
Previous Daily High 1287.8
Previous Daily Low 1268.8
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.54
Daily Fibonacci 61.8% 1276.06
Daily Pivot Point S1 1269.37
Daily Pivot Point S2 1259.59
Daily Pivot Point S3 1250.37
Daily Pivot Point R1 1288.37
Daily Pivot Point R2 1297.59
Daily Pivot Point R3 1307.37
Levels
Previous Daily High 1287.8
Previous Daily Low 1268.8
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.54
Daily Fibonacci 61.8% 1276.06
Daily Pivot Point S1 1269.37
Daily Pivot Point S2 1259.59
Daily Pivot Point S3 1250.37
Daily Pivot Point R1 1288.37
Daily Pivot Point R2 1297.59
Daily Pivot Point R3 1307.37
Levels Levels Levels Previous Daily High 1287.8 Previous Daily Low 1268.8 Previous Weekly High 1288 Previous Weekly Low 1266.35 Previous Monthly High 1310.7 Previous Monthly Low 1265.6 Daily Fibonacci 38.2% 1280.54 Daily Fibonacci 61.8% 1276.06 Daily Pivot Point S1 1269.37 Daily Pivot Point S2 1259.59 Daily Pivot Point S3 1250.37 Daily Pivot Point R1 1288.37 Daily Pivot Point R2 1297.59 Daily Pivot Point R3 1307.37 Previous Daily High 1287.8 Previous Daily High1287.81287.8 Previous Daily Low 1268.8 Previous Daily Low1268.81268.8 Previous Weekly High 1288 Previous Weekly High12881288 Previous Weekly Low 1266.35 Previous Weekly Low1266.351266.35 Previous Monthly High 1310.7 Previous Monthly High1310.71310.7 Previous Monthly Low 1265.6 Previous Monthly Low1265.61265.6 Daily Fibonacci 38.2% 1280.54 Daily Fibonacci 38.2%1280.541280.54 Daily Fibonacci 61.8% 1276.06 Daily Fibonacci 61.8%1276.061276.06 Daily Pivot Point S1 1269.37 Daily Pivot Point S11269.371269.37 Daily Pivot Point S2 1259.59 Daily Pivot Point S21259.591259.59 Daily Pivot Point S3 1250.37 Daily Pivot Point S31250.371250.37 Daily Pivot Point R1 1288.37 Daily Pivot Point R11288.371288.37 Daily Pivot Point R2 1297.59 Daily Pivot Point R21297.591297.59 Daily Pivot Point R3 1307.37 Daily Pivot Point R31307.371307.37