- 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.
|Today last price||1459.9|
|Today Daily Change||1.29|
|Today Daily Change %||0.09|
|Today daily open||1458.61|
|Previous Daily High||1472.94|
|Previous Daily Low||1456.43|
|Previous Weekly High||1514.85|
|Previous Weekly Low||1456.43|
|Previous Monthly High||1519.04|
|Previous Monthly Low||1455.5|
|Daily Fibonacci 38.2%||1462.73|
|Daily Fibonacci 61.8%||1466.63|
|Daily Pivot Point S1||1452.38|
|Daily Pivot Point S2||1446.15|
|Daily Pivot Point S3||1435.88|
|Daily Pivot Point R1||1468.89|
|Daily Pivot Point R2||1479.16|
|Daily Pivot Point R3||1485.39|
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