- Gold is struggling to beat the newfound resistance at $1,475.
- The daily chart shows the recent bounce has run out of steam.
Gold is again having a tough time scaling $1,475 in a convincing manner.
The yellow metal is currently trading at $1,473 per Oz, having hit a high of $1,475.25 an hour ago. Notably, $1,475 capped upside on Monday, Tuesday and also on Nov. 14.
As a result, it is the level to beat for the bulls. A convincing break higher will likely yield a quick move to $1,480-$1,482.
However, the two-way business or indecision signaled by Tuesday's candle indicates the bounce from the Nov. 12 low of $1,445 has run out of steam and a pullback, possibly to $1,464, could be in the offing.
|Today last price||1474.11|
|Today Daily Change||1.62|
|Today Daily Change %||0.11|
|Today daily open||1472.49|
|Previous Daily High||1475.43|
|Previous Daily Low||1465.08|
|Previous Weekly High||1474.6|
|Previous Weekly Low||1445.8|
|Previous Monthly High||1519.04|
|Previous Monthly Low||1455.5|
|Daily Fibonacci 38.2%||1471.47|
|Daily Fibonacci 61.8%||1469.03|
|Daily Pivot Point S1||1466.57|
|Daily Pivot Point S2||1460.64|
|Daily Pivot Point S3||1456.21|
|Daily Pivot Point R1||1476.92|
|Daily Pivot Point R2||1481.35|
|Daily Pivot Point R3||1487.28|
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