- Gold again defends the long-held support at $1,850.
- A bull revival needs a close above the Nov. 6 high.
Gold is currently trading above $1,865, having printed lows near $1,850 on Thursday. That level offered support multiple times in the second half of September and earlier this month.
As such, $1,850 is the level to beat for the bears. A breakdown would validate the big bearish engulfing candle created on Nov. 6 and open the doors to the psychological level of $1,800.
Alternatively, a close above the Nov. 6 high of $1,965 is needed to revive the broader uptrend. The yellow metal is up 23% this year.
Trend: Bearish below $1,850
|Today last price||1866.76|
|Today Daily Change||0.02|
|Today Daily Change %||0.00|
|Today daily open||1866.74|
|Previous Daily High||1874.12|
|Previous Daily Low||1852.8|
|Previous Weekly High||1965.58|
|Previous Weekly Low||1850.56|
|Previous Monthly High||1933.3|
|Previous Monthly Low||1860|
|Daily Fibonacci 38.2%||1860.94|
|Daily Fibonacci 61.8%||1865.98|
|Daily Pivot Point S1||1854.99|
|Daily Pivot Point S2||1843.23|
|Daily Pivot Point S3||1833.67|
|Daily Pivot Point R1||1876.31|
|Daily Pivot Point R2||1885.87|
|Daily Pivot Point R3||1897.63|
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