Gold / US Dollar, Daily Chart Analysis November 6
Technical Analysis and Outlook
The precious metals market - Gold could not expand above primary first Mean Res $1,514 while the other two-stars resistance levels Mean Res $1,533 and Key Res $1,550 are looming above.
Once the Gold began reversing yesterday morning, it took out the first Men Sup at $1,487 as the heavy selling picked up. The critical support levels now only come in at Maginot Line $1,475 and significant Key Sup $1,473 (BARC). This is a price level that the bulls and bears will once again stage a considerable battle.
The precious metals market - Gold could not expand above primary first Mean Res $1,514 while the other two-stars resistance levels Mean Res $1,533 and Key Res $1,550 are looming above.
Once the Gold began reversing yesterday morning, it took out the first Men Sup at $1,487 as the heavy selling picked up. The critical support levels now only come in at Maginot Line $1,475 and significant Key Sup $1,473 (BARC). This is a price level that the bulls and bears will once again stage a considerable battle.
Comment:
Gold ran through Maginot Line $1,475 and tested our Key Sup $1,473 'BARC'. Gold must hold at Outer Gold Dip $1,455 level, or we can see Next Gold Dip $1,440 as the next stop. To continue the rest story, see 'Gold and Silver Market Commentary & Analysis November 9, 2019 page, at TradingSig_dot_com.