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Gold Technical Analysis

Bears take comfort in the lack of follow through following the spike above 21 & 55-DMAs Thursday.

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

The recovery from 2 month lows last week managed a brief pop above the 21-DMA

Bears take comfort in the lack of follow through following the spike above 21 & 55-DMAs Thursday.

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

The bounce from fresh 2 month lows Tuesday resulted in a an aggressive rally and

The aggressive bounce Tuesday stalled ahead of $1224.3 before reversing sharply lower and

Losses below the $60.00 level continue with bulls needing a close above $59.57 to

The sell-off continued Tuesday with a sharp move lower dipping below the 100-WMA to

Continued hesitation around the $1237.7-1240.6 region has seen the correction lower begin with

Losses below the $60.00 level continue with bulls now needing a close above $59.57 to

Yet another sharp move lower and bearish close sees the immediate focus on