Gold continues to oscillate around the 55-DMA ($1202.9) with bulls needing a close above the $1222.5 resistance level to confirm a clean break and bullish bias that sees focus shift to the $1237.8-1258.5 region. The $1185.1-1192.3 support region remains key with bears needing a close below $1092.3 to ease bullish pressure and hint at a shift in focus back to 2014 lows with a close below $1185.1 needed to confirm.
RES 4: $1240.6 – Low Oct 22 now resistance
RES 3: $1237.8 – 100-DMA
RES 2: $1222.5 – Low Oct 28 now resistance
RES 1: $1214.9 – High Dec 3
LPRICE: $1202.5
SUP 1: $1192.3 – Low Dec 2
SUP 2: $1185.1 – Hourly resistance Dec 1 now support
SUP 3: $1169.1 – Hourly support Dec 1
SUP 4: $1142.8 – Low Dec 1
