Gold Price News and Forecast: The yellow metal erases daily losses and bounces from the November low
|Gold Technical Analysis: Metal rebounds sharply from daily lows, nearing $1465/oz
On the daily chart, gold stays under mild selling pressure near the November lows while trading below the 1465 resistance level and the 50/100 SMAs. However, the bears need a break below the 1445 swing low on a daily closing basis to drive the market towards the 1400 figure near the 200-day SMA.
Gold Technical Analysis: Metal remains under precious below $1465/oz
On the daily chart, gold remains under selling pressure near the November lows while trading below the 1465 resistance level and the 50/100 SMAs. However, the bears need a break below the 1445 swing low. If so, the market could depreciate further towards the 1400 figure near the 200-day SMA.
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