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Gold Near Resistance

Published 12/30/2016, 10:14 AM
Updated 07/09/2023, 06:32 AM
XAU/USD
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GC
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Here is what I said about gold on 27 December. Here is the 5 hour chart of gold which looks vulnerable to correction if gold fails to take out 1165, followed by the resistance of 1168. Next resistance zone above 1168 is 1182-1184 area followed by 1198. However, if gold fails here (which looks more likely) then look for support at 1145 followed by 1136 and 1128. Waiting for the close of monthly and weekly candles today for further clarity on longer timeframe in bullion tonight.

Gold 5 Hour Chart

Resistance: 1168 / 1182
Support: 1145 / 1136

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