XAUUSD Friday
Support at 1900 -1904 $
Resistance at 1917-1920 $
Technically, December gold futures bears still have the overall near-term technical advantage. However, a four-week-old downtrend on the daily bar chart has been negated. Bulls’ next upside price objective is to produce a close above solid resistance at $1,980.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,900.00. First resistance is seen at $1,963.50 and then at $1,975.00. First support is seen at today’s low of $1,939.20 and then at Wednesday’s low of $1,926.20. Wyckoff's Market Rating: 3.5.
Resistance at 1917-1920 $
Technically, December gold futures bears still have the overall near-term technical advantage. However, a four-week-old downtrend on the daily bar chart has been negated. Bulls’ next upside price objective is to produce a close above solid resistance at $1,980.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,900.00. First resistance is seen at $1,963.50 and then at $1,975.00. First support is seen at today’s low of $1,939.20 and then at Wednesday’s low of $1,926.20. Wyckoff's Market Rating: 3.5.
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