In the gold market, you've got higher lows and higher highs. The market ended its bear trend. When you go from 2020 to all the way down beneath 1920, you're going to get a bounce. That's typical and where you're at. You're over the 18-week average. Notice something important: the 200-day moving average of closes is 1948.40. That ties right in with the weekly at 1949. So I have a resistance point that made up of two different areas.
August 29, 2023