Gold prices got another shot-in-the-arm in early-December, pushing above the 1800 psychological level and eventually finding resistance in a block of prior swing highs, plotted from around 1819 to 1824. This was the same spot of resistance that caught the highs in August before the sell-off pushed down to that key support test at 1628, just before the November reversal began. Bulls shied away from a re-test of this zone last Friday, but this morning’s move saw prices breach-above before pulling back. And at this point, buyers are trying to hold support in that same spot, on a short-term basis.
For bullish continuation scenarios, if buyers can hold the higher-low, whether its in the 1819-1824 zone or whether its above the 1800 psychological level, the next major spot on the chart is 1848, which is the 50% marker of this year’s major move.
Be careful of your trades TONIGHT!
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
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