Gold trades 0.29% higher after the recent price drop. There are some key resistance levels above that look strong. Gold 4-hour chart Gold has been moving in a downward trajectory since the greenback strength kicked in on 1st September. Since then, the greenback has broken out of consolidation zones in EUR/USD and most of the other majors. The market was looking towards the Fed to see if they would add to their stimulus programs but they have been deflecting the pressure over to the White House who continues to stall on a fiscal deal. The price has broken out of some key support zones to the downside. The black level at USD 1912.55 per troy ounce is the main level to look out for. If this correction moves higher the aforementioned price level could be very important. Before that, the red level just above USD 1880 per ounce could be a stalling point but we must wait to see how the price reacts at the level. The indicators are still bearish. The MACD histogram is red and the signal lines are still under the zero level. The Relative Strength Index is very depressed and is hugging the oversold area. Longer-term this trend could still be an uptrend (weekly and monthly timeframes) but at the moment traders and investors are looking to time the retracement. It is very hard to catch a falling knife and predict how far these moves will last but keep an eye on the resistance zones and this retracement could move further. Additional levels 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 Fed’s Bullard: Policy in great shape right now but could make adjustments if needed FX Street 2 years Gold trades 0.29% higher after the recent price drop. There are some key resistance levels above that look strong. Gold 4-hour chart Gold has been moving in a downward trajectory since the greenback strength kicked in on 1st September. Since then, the greenback has broken out of consolidation zones in EUR/USD and most of the other majors. The market was looking towards the Fed to see if they would add to their stimulus programs but they have been deflecting the pressure over to the White House who continues to stall on a fiscal deal. The price has broken out of… 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.