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Bull Cycle Intact

GOLD TECHS
  • RES 4: $1934.4 - High Apr 25, 2022
  • RES 3: $1919.9 - High Apr 29, 2022
  • RES 2: $1909.8 - High May 5, 2022
  • RES 1: $1896.5 - 61.8% retracement of the Mar - Sep bear leg
  • PRICE: $1871.7 @ 07:18 GMT Jan 10
  • SUP 1: $1825.2 - Low Jan 5 and key near-term support
  • SUP 2: $1797.1 - Low Dec 28
  • SUP 3: $1774.0 - Low Dec 15
  • SUP 4: $1765.9 - Low Dec 5

Trend conditions in Gold remain bullish and the yellow metal traded higher Monday, starting the week on a firm note and extending the current uptrend. The move higher maintains the positive price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position - reflecting the current trend condition. The focus is on $1896.5, a Fibonacci retracement. On the downside, support to watch lies at $1825.2, Jan 5 low.

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