pierrerajudin

pierrerajudin

The near–term support is around $1680, a close below targets $1671/$1650/$1600. Significant reversal only below $1650. The yellow metal faces minor resistance around $1720, breach above will take it to the next level of $1740/$1760/$1775/$1800/$1820.

pierrerajudin

It faces strong support at $1780, violation below targets $1770/$1758/$1740. Significant trend continuation only below $1675. The yellow metal facing strong resistance $1805, any breach above will take to the next level $1815/$1825/$1835/$1860 is possible.

pierrerajudin

It faces strong support at $1780, violation below targets $1770/$1758/$1740. Significant trend continuation only below $1675. The yellow metal facing strong resistance $1805, any breach above will take to the next level $1815/$1825/$1835/$1860 is possible.

pierrerajudin

It is facing strong resistance $1800 and sideways between price gap at $1796-1792, violation below targets $1740/$1720. Significant trend continuation only below $1796. On the higher side, near-term resistance is around $1800, any convincing break above will take the yellow metal $/$1825/$1835/$1860/$1900 is possible.

pierrerajudin Updated 

If we observe together, a Double Top pattern is formed and a False Break is likely to occur, as happened in 1760 after the announcement of the Core (CPI) MoM. After all, all the news releases related to the US are good, there is nothing that will make the price of gold go up.