Gold Technical Analysis by Jason Maynard Head of Wave-FX Global Research Team

Gold Technical Analysis by Jason Maynard Head of Wave-FX Global Research Team

The session for Gold remained essentially unchanged, closing trading on the values ​​on the eve of the day. The first steps were marked by neutrality for gold, which then moved sideways throughout the session, before closing down at 1,753.4, on the lower end of the meeting. TREND ANALYSIS The technical status of gold shows signs of worsening with the support area set at 1,748.2, while on the upside the resistance area is identified at 1,763.8. For the next session, we could see a new bearish moment with a target likely estimated at 1,724. SUPPORT & RESISTANCE Resistance 2 : 1785.20 Resistance 1 : 1768.90 Support 1 : 1748.80 Support 2 : 1724.20

 

Attached the COT (Commitments Of Traders) of Gold Showing the actual Prices and Net Positions of Commercials - Non Commercials - Non Reportable

 

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Posted In: contributorsGoldCommoditiesMarkets