Gold continues to find support ahead of $1175.0 on dips with bears taking some comfort in the lower daily highs the past two days. A falling daily trend line off Oct highs caps around $1197.4 today but bulls now look for a close above the 55-DMA to reconfirm bullish pressure and shift overall focus to the $1249.9-1258.5 region where the 100-DMA is located. Bears need to see a close below $1175.0 to shift focus back to 2014 lows.
RES 4: $1210.1 – 55-DMA
RES 3: $1207.9 – Hourly resistance Oct 30
RES 2: $1204.7 – High Nov 18
RES 1: $1197.4 – Falling daily trend line
LPRICE: $1192.1
SUP 1: $1175.0 – Low Nov 19
SUP 2: $1146.1 – Low Nov 11
SUP 3: $1130.0 – 2014 Low Nov 7
SUP 4: $1124.2 – Low Apr 19 2010