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Gold Technical Analysis

The bounce Friday has eased bearish pressure and seen immediate focus

Pressure has returned to the 2014 low following repeated topside failures ahead of $59.27.

Bulls take comfort in the recent closes above the 21 & 200-DMAs but

The hesitation ahead of the $1170.8 Dec 22 low combined with daily studies at

Bulls look for a correction while the $53.94 low supports. O/S daily studies

Bulls take comfort in the recent closes above the 21 & 200-DMAs but

The break lower Monday confirmed the bearish bias and

Sideways trading has dominated for just over a week with bulls looking for

Tuesday’s rally and relatively bullish close sees pressure firmly on

The break of the 61.8% Fibonacci retracement at $1179.5 Monday came following another

The bounce from recent 2014 and 5 + year lows stalled at the $59.27 level with bulls

The recovery from 2 month lows continues to struggle around the 21-DMA (3174.8) with