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Stalls At $1855.5

GOLD TECHS
  • RES 4: $1918.2 - 76.4% retracement of the Jan 6 - Feb 4 sell-off
  • RES 3: $1892.8 - 61.8% retracement of the Jan 6 - Feb 4 sell-off
  • RES 2: $1875.7 - High Jan 29 and key near-term resistance
  • RES 1: $1855.0/55.5 - 50-day EMA / High Feb 10
  • PRICE: $181901 @ 07:06 GMT Feb 12
  • SUP 1: $1807.9 - Low Feb 8
  • SUP 2: $1785.0 - Low Feb 4
  • SUP 3: $1775.9 - Low Dec 1
  • SUP 4: $1764.8 - Low Nov 30

Gold has failed to hold onto recent gains and resistance this week has been defined at $1855.5, Wednesday's high. Continued intraday weakness would expose the key short-term support at $1785.0, Feb 4 low and a bear trigger. A break of this level would confirm a resumption of the downtrend that has been in place since Jan 6. On the upside, clearance of $1855.5 is required to reinstate a bullish focus.

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