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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • RES 4: $1909.7 - High Jun 3
  • RES 3: $1903.8 - High Jun 8
  • RES 2: $1877.2/88.7 High Nov 16 / Bull channel top
  • RES 1: $1815.6/49.1 - High Nov 26 / High Nov 22
  • PRICE: $1785.3 @ 07:22 GMT Dec 9
  • SUP 1: $1764.7/62.0 - Bull Channel base from Aug 9 / Low Dec 2
  • SUP 2: $1759.0 - Low Nov 3
  • SUP 3: $1721.7 - Low Sep 29
  • SUP 4: $1690.6 - Low Aug 9

Gold is consolidating and remains above last week’s lows. Short-term conditions are still bearish. Price has recently breached both the 20- and the 50-day EMAs and attention is on the base of a bull channel at $1764.7 today. The channel is drawn off the Aug 9 low and represents an important support. A breakout would strengthen bearish conditions. Initial firm resistance to watch is at $1815.6, the Nov 26 high.