Gold is attempting to recover off trendline support at $1819. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, notes that the yellow metal will face initial resistance at $1906. See – Gold Price Analysis: XAU/USD to gun towards $2,000 over 2021 – TDS Key quotes “Gold sold off sharply last week all the way back to the 10-month uptrend currently at $1819. This is currently holding the downside and the market is attempting to recover.” “Near-term rallies will find initial resistance at $1906 the 21st December high ahead of the November and September highs at $1965.84/$1973.8. This remains the barrier to the 78.6% retracement at $2006.” “Below the $1819 level lies key support, which remains the $1760/$1765.61 May high and 50% retracement. We view the market as having based here, and note that this support is further reinforced by the $1776 55-week ma.” “Below $1760 would leave the market under pressure and attention on the $1670 June low.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD drops below 0.7200 ahead of US data FX Street 2 years Gold is attempting to recover off trendline support at $1819. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, notes that the yellow metal will face initial resistance at $1906. See – Gold Price Analysis: XAU/USD to gun towards $2,000 over 2021 – TDS Key quotes “Gold sold off sharply last week all the way back to the 10-month uptrend currently at $1819. This is currently holding the downside and the market is attempting to recover.” “Near-term rallies will find initial resistance at $1906 the 21st December high ahead of the November and September highs at $1965.84/$1973.8. This remains the barrier to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
