Gold Next Resistance is Clustered around 1700
Prepared by Jamie Saettele, CMT
Gold has exceeded the 50% retracement of the decline from the November top and focus has shifted to a cluster of resistance near 1700. Aside from round number significance, the 61.8% retracement resides near there as do lows from early December. Short term channel resistance is just above 1700.
Bottom Line – flat
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.