Friday’s sell-off found support at the 21-DMA ($1189.1) with gold bouncing from ahead of this level Monday. The bounce provides bulls with breathing room and sees focus return to the $1213.6-1222.5 region. Bulls need a close above $1222.5 to reconfirm bullish pressure and see immediate focus shift to the $1240.6-1258.5 region. Bears now look for a close below $1198.2 to shift focus back to the $1185.1 support.
RES 4: $1235.5 – 100-DMA
RES 3: $1222.5 – Low Oct 28 now resistance
RES 2: $1213.6 – High Dec 3
RES 1: $1208.9 – High Dec 8
LPRICE: $1201.0
SUP 1: $1198.2 – Hourly resistance Dec 8 now support
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
