Gold technical analysis: Yellow metal starts the week trading below the 1,500 mark

Optimism on trade talks is improving the market mood and lessening the demand for the safe-haven metal. Gold is trading below the 1,500 psychological mark as t  |  14/10/2019 16:54
  • Optimism on trade talks is improving the market mood and lessening the demand for the safe-haven metal.
  • Gold is trading below the 1,500 psychological mark as the week is starting.
 

Gold four-hour chart

 
The yellow metal is trading below the 50,100 and 200-day simple moving average (SMA) while below the 1,500 mark; all-in-all suggesting a bearish bias in the medium term. A break below $1,475 a troy once can expose the 1,460 swing low. On the flip side, a daily close above 1,500 could spark some interest in the 1,510/1,520 resistance levels in the medium term.
 

Additional key levels

 

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