Gold wandered near the 2 weeks low yesterday. The market opened near 1789, and the price had climbed to the day-high 1796 early before the European session. The price then began to slip. It touched a 2-weeks low at 1777 at the US session. The day ended near 1788, down slightly by USD 1.
After the price visited the bottom twice in the last 48 hours, Gold has finally found the S-T support at 1780. During the US thanksgiving holiday, expect the price to remain within the 1780-1810(1) range.
Althought the price touched the 1780 support twice, it has failed to close below the 50 days(3) MA in the last 2 attempts. An S-T bottom is now been formed on the daily chart. The S-T trend is similar to yesterday, where the price is now bounded by the 50 days(3) & the 100 days(2) MA, and the upside target remains the 250 days MA (around 1803).
S-T Resistances:
1808
1800-03
1795
Market price: 1793
S-T Supprots:
1788-90
1783
1780
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P. To
After the price visited the bottom twice in the last 48 hours, Gold has finally found the S-T support at 1780. During the US thanksgiving holiday, expect the price to remain within the 1780-1810(1) range.
Althought the price touched the 1780 support twice, it has failed to close below the 50 days(3) MA in the last 2 attempts. An S-T bottom is now been formed on the daily chart. The S-T trend is similar to yesterday, where the price is now bounded by the 50 days(3) & the 100 days(2) MA, and the upside target remains the 250 days MA (around 1803).
S-T Resistances:
1808
1800-03
1795
Market price: 1793
S-T Supprots:
1788-90
1783
1780
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytic
