Gold technical analysis: The precious metal could be starting to find support
|- Gold is trading flat today in a quiet session due to veterans day in the US.
- There is an internal trendline where gold may find some support on the daily chart.
Gold Daily Chart
The precious metal has been selling off during the risk rally.
The main reason for the weakness in gold has been the positive rhetoric between the US and China.
There has been a small snag when US President Trump failed to confirm if tariffs will be rolled back.
Today gold is still under pressure as US equities markets rise despite veterans day.
On the daily chart below there could be some support at the trendline. I have marked some other support areas with the green arrow and it seems they are all in close proximity.
The next strong support zones lie at USD 1439.14 and USD 1452.95 per ounce.
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Additional Levels
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