Gold trades near $1,836, down nearly $20 from session highs. Technical charts suggest the bounce from recent lows has run ot steam. Gold (XAU/USD) is currently trading largely unchanged on the day near $1,836 per ounce, having put in a high of $1,855 early Monday. The long upper wick attached to today’s candle and the previous week’s candle indicates the bounce from the Nov. 30 low of $1,764 has run out of steam. The metal could drop to Friday’s low of $1,824, under which the focus would shift to $1,764. Supporting the bearish case is the below-50 reading on the 14-day Relative Strength Index. Alternatively, the Dec. 8 high of $1,875 is the level to beat for the bulls. A break higher would expose resistance near $1,9254 – that level is currently housing the trendline falling from Aug. 7 and Nov. 9 high. Daily chart Trend: Bearish Technical 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 PBOC sets yuan reference rate at 6.5361 FX Street 2 years Gold trades near $1,836, down nearly $20 from session highs. Technical charts suggest the bounce from recent lows has run ot steam. Gold (XAU/USD) is currently trading largely unchanged on the day near $1,836 per ounce, having put in a high of $1,855 early Monday. The long upper wick attached to today's candle and the previous week's candle indicates the bounce from the Nov. 30 low of $1,764 has run out of steam. The metal could drop to Friday's low of $1,824, under which the focus would shift to $1,764. Supporting the bearish case is the below-50 reading on the 14-day… 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.
