Continuing the selling momentum from its pervious trading day, the price declined to day low, 1819, at the U.S. session opening on Friday. It has rapidly rebounded once the U.S. released the CPI figures & the market finally closed @ 1823.
After gold price touched the 250 days MA(1) last Friday and has begun its rebound. Buying support seems to be strong at below 1820 on the daily chart. If the price can stand above 1820 in the next 24 hours, 1840 will be its S-T rebound target.
S-T Resistance:
1850
1840
1830-35
Current Price: 1823
S-T Support:
1820
1812-08
1800-1795
After gold price touched the 250 days MA(1) last Friday and has begun its rebound. Buying support seems to be strong at below 1820 on the daily chart. If the price can stand above 1820 in the next 24 hours, 1840 will be its S-T rebound target.
S-T Resistance:
1850
1840
1830-35
Current Price: 1823
S-T Support:
1820
1812-08
1800-1795
Comment:
Gold price fell below the support of 1815 & 1810(1) in the U.S. session yesterday. The price went all the way to day low 1788, ended up closing at 1795. During the Asian session today, gold has broke yesterday's low touching 1785, but quickly rebounded. Currently, the price has found a S-T support between 1789-92(2) with the upper resistance line(3).
The M-T downward trend continued on the daily chart. Although yesterday the closing price found its support from the line(4) which was formed by the low's of Nov. 2020, the price dropped under this support this morning. In order to initial a rebound, the price need to stand above the M-T support line(4) in the next 24 hours. Otherwise, the gold may a new monthly low @ 1775 or lower.
S-T Resistance:
1810
1800
1795
Market Price: 1792.5
S-T Support:
1792-89
1785
1780
Gold price fell below the support of 1815 & 1810(1) in the U.S. session yesterday. The price went all the way to day low 1788, ended up closing at 1795. During the Asian session today, gold has broke yesterday's low touching 1785, but quickly rebounded. Currently, the price has found a S-T support between 1789-92(2) with the upper resistance line(3).
The M-T downward trend continued on the daily chart. Although yesterday the closing price found its support from the line(4) which was formed by the low's of Nov. 2020, the price dropped under this support this morning. In order to initial a rebound, the price need to stand above the M-T support line(4) in the next 24 hours. Otherwise, the gold may a new monthly low @ 1775 or lower.
S-T Resistance:
1810
1800
1795
Market Price: 1792.5
S-T Support:
1792-89
1785
1780
Comment:
Gold continued to fall yesterday. The price has broken the support zone between 1789-92 during the day & passed the support @ 1785 at the U.S. session opening. Yesterday's low touched 1769 with the market closed @ 1775. A S-T resistance(2) has been formed in the pass 24 hours, while the price approaching, we can expect a movement in the coming European & the U.S. session today. If the price continue to rebound, the S-T resistance line(3) will be the next target.
Gold has found it support @ the M-T support line(4) on the daily chart. If it starts a temporary rebound, the next target will be the M-T resistance line(4) and 250 days MA(5).
S-T Resistance:
1800
1795
1785
Market Price: 1784.2
S-T Support:
1780
1775
1769-75
Gold continued to fall yesterday. The price has broken the support zone between 1789-92 during the day & passed the support @ 1785 at the U.S. session opening. Yesterday's low touched 1769 with the market closed @ 1775. A S-T resistance(2) has been formed in the pass 24 hours, while the price approaching, we can expect a movement in the coming European & the U.S. session today. If the price continue to rebound, the S-T resistance line(3) will be the next target.
Gold has found it support @ the M-T support line(4) on the daily chart. If it starts a temporary rebound, the next target will be the M-T resistance line(4) and 250 days MA(5).
S-T Resistance:
1800
1795
1785
Market Price: 1784.2
S-T Support:
1780
1775
1769-75
Comment:
The price movement was dominated by the M-T downward trend yesterday. The rebound from 1775 began in the early Asian session. Although the price has passed the S-T resistance line(1) during the European session, it touched the resistance @ 1790 and resumed its way down at the U.S. session. It fell to the 3 months low of 1768 and ended the day @ 1775. The price dropped to a fresh 6 months low @ 1760 this morning. The S-T resistance line(2) from 48 hrs ago is still valid, still awaiting for the breakthrough.
The selling(4) before market closing yesterday led to the fall early in the Asian session today. In order to begin its rebound, gold needs to find the support in zone(5) and closing above 1775 on the daily chart, otherwise, we can expect the price remains on track in the M-T downtrend.
S-T Resistances:
1790-92
1785
1775
Market Price: 1772.4
S-T Supports:
1770-68
1769
1760
The price movement was dominated by the M-T downward trend yesterday. The rebound from 1775 began in the early Asian session. Although the price has passed the S-T resistance line(1) during the European session, it touched the resistance @ 1790 and resumed its way down at the U.S. session. It fell to the 3 months low of 1768 and ended the day @ 1775. The price dropped to a fresh 6 months low @ 1760 this morning. The S-T resistance line(2) from 48 hrs ago is still valid, still awaiting for the breakthrough.
The selling(4) before market closing yesterday led to the fall early in the Asian session today. In order to begin its rebound, gold needs to find the support in zone(5) and closing above 1775 on the daily chart, otherwise, we can expect the price remains on track in the M-T downtrend.
S-T Resistances:
1790-92
1785
1775
Market Price: 1772.4
S-T Supports:
1770-68
1769
1760
P. To
Gold moved in a tight USD 11 range yesterday. The price found its support in the zone of 1815-16(1) & S-T resistance is now @ 1827-30(2).
The 250 days MA(3) is still providing support on the daily chart. S-T resistance weights on the 5 days MA(4).
S-T Resistance:
1840
1835
1827-30
Market Price: 1823
S-T Support:
1820
1816-15
1810