Gold resistance - testing back below 2k
last week was the first weekly close below 2k in GC since the recent breakout. Weekly chart highlights the multi-year range, big question is whether sellers have enough to re-take control of near-term trends this week. I don't doubt that Gold can prod a lasting move above 2k, I just don't think that'll happen until the Fed pivots and I'm not expecting that while Core CPI > 5%.
Am tracking a series of resistance levels overhead, 2008 near-term, 2023 above that. 2037, 2049 above that
supports 1980, 1954 and then 1944
next week is FOMC and ECB
Am tracking a series of resistance levels overhead, 2008 near-term, 2023 above that. 2037, 2049 above that
supports 1980, 1954 and then 1944
next week is FOMC and ECB
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