28 Nov 2019
Gold Technical Analysis: The precious metal is under pressure near four-month lows
- The yellow metal remains under bearish pressure as the Thursday’s London session comes to an end.
- The outlook for gold remains slightly bearish in the medium term.
Gold daily chart
On the daily time frame, gold is under pressure near the November lows while trading below the 1465 resistance and the 50 and 100 SMAs. If the sellers break the 1445 swing low, the market could decline further towards the 1400 psychological mark near the 200 daily SMA.
Gold four-hour chart
The market stays under pressure while trading below the main SMAs. As the metal remains on the back foot, the 1445 level remains on the bears’ radar in the medium term. Immediate resistance can be seen near the 1465 and 1480 levels.
Additional key levels