Uptrend Remains Intact

• RES 4: $2206.6 - 1.382 proj of the Oct 6 - 27 - Nov 13 price swing
• RES 3: $2177.6 - 1.236 proj of the Oct 6 - 27 - Nov 13 price swing
• RES 2: $2135.4 - High Dec 4 and all-time high
• RES 1: $2077.4 - 50.0% retracement of the Dec 4 range
• PRICE: $2033.6 @ 05:48 GMT Dec 5
• SUP 1: $2004.1 - 20-day EMA
• SUP 2: $1968.9 - 50-day EMA
• SUP 3: $1931.7 - Low Nov 13 and key support
• SUP 4: $1908.3 - Low Oct 16

Gold traded in a volatile manner Monday. The trend condition is bullish and yesterday’s initial gains reinforce this theme. The precious metal touched a fresh all-time high of $2135.39 and this signals potential for a climb towards 2177.58 next, a Fibonacci projection. Price has since retraced and is trading closer to this week’s low, so far. A short-term pullback is considered corrective - for now. Initial support is $2004.1, the 20-day EMA.