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Gold Technical Analysis

Friday’s sell-off found support at the 21-DMA ($1189.1) with gold bouncing from ahead

The falling daily channel base at $61.31 remains the initial focus for bears with a close below

The bearish close and hesitation ahead of the 3302.9-3316.8 region is a little concerning for bulls.

Friday’s sell-off provides bears with some breathing room but

Layers of resistance remain as immediate focus shifts back to

Thursday’s bearish key day reversal was negated by an aggressive bounce

Gold continues to oscillate around the 55-DMA ($1202.9) with

Layers of resistance are accumulating as the recovery from

A bearish key reversal Thursday sees bears feeling more confident with

The $1185.1-1192.3 support region remains key with the bounce from

The $66.67 and $69.57 levels are seen as key today. Bears need a close below $66.67 to

Consolidation above the 3213.5 support continues with pressure remaining on the