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GOLD TECHS: Trend Structure Remains Bullish

GOLD TECHS
Metals Technical AnalysisCommodities TechBulletMarketsForeign Exchange BulletsCommodities
  • RES 4: $2790.1 - High Oct 31 and the bull trigger  
  • RES 3: $2750.0 - High Nov 5
  • RES 2: $2730.4 - 76.4% retracement of the Oct 31 - Nov 14 bear leg     
  • RES 1: $2721.4 - High Nov 25     
  • PRICE: $2669.3 @ 07:25 GMT Dec 10 
  • SUP 1: $2605.3/2564.4 - Low Nov 26 / 18 
  • SUP 2: $2536.9 - Low Nov 14 and a key support
  • SUP 3: $2511.1 - Low Sep 12
  • SUP 4: $2472.0 - Low Sep 4   

Gold traded higher Monday. The long-term trend condition remains bullish and the Oct 31 - Nov 14 bear leg appears to have been a correction. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Resistance to watch is $2721.4, the Nov 25 high. Clearance of this level would highlight a bullish short-term development. Key support to monitor is $2536.9, the Nov 14 low. First support is $2605.3, the Nov 26 low.

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  • RES 4: $2790.1 - High Oct 31 and the bull trigger  
  • RES 3: $2750.0 - High Nov 5
  • RES 2: $2730.4 - 76.4% retracement of the Oct 31 - Nov 14 bear leg     
  • RES 1: $2721.4 - High Nov 25     
  • PRICE: $2669.3 @ 07:25 GMT Dec 10 
  • SUP 1: $2605.3/2564.4 - Low Nov 26 / 18 
  • SUP 2: $2536.9 - Low Nov 14 and a key support
  • SUP 3: $2511.1 - Low Sep 12
  • SUP 4: $2472.0 - Low Sep 4   

Gold traded higher Monday. The long-term trend condition remains bullish and the Oct 31 - Nov 14 bear leg appears to have been a correction. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Resistance to watch is $2721.4, the Nov 25 high. Clearance of this level would highlight a bullish short-term development. Key support to monitor is $2536.9, the Nov 14 low. First support is $2605.3, the Nov 26 low.