Gold continues to go sideways from a weekly perspective. Where are the upside resistances today?
The best performing precious metal for the week was palladium, up 12.68%. Gold imports by India accelerated to the highest level in a decade..
The hallmark of a bear market is un-shortable upthrusts, usually occurring at times of the day or week that make them too menacing to intercept.
Gold trap in Gold? What gold needs to do in the next couple weeks. Gold continues to fail to close above the 18 month moving average of $1,816.40.
Technical chart updates for $NEM, $QQQ, $SILVER and more.
Positions as of 25 January, 2022.
Gold broke the uptrend line and failed to breakout higher. Will the gold cartel be able to break the $1,750 area pivot? Trying to trade gold is nearly impossible in a market like this.
On the daily gold chart, the levels of supports now come in at the 100 DMA around $1,797.40 and under that is the lower Bollinger band, $1,782.60.
Immediately as the Fed started talking, gold started falling. Gold steps out of an uptrend..
I will tell you that we have some major support below us in the market. The lower end of that support is in the 4095-4270SPX region.
