Gold Trading Technical Analysis

Gold broke support yesterday at 1826.00 and dropped below 1820.00, finding a base around 1819.00, however, Gold soon snapped back above 1826.00 and rallied to 1838.00

This morning we are hovering above the 1826.00/1827.00 support area again. The market appears nervous about the upcoming CPI and the consequences of USD strength emerging on the day.

Technically while 1826.00 holds you can expect a test of 1832.00 resistance and then 1836.00, yesterdays high of 1841.00 seems a bit far, unless US CPI is a disappointment.

However, a break of 1826.00 would open a deeper drop this time below 1820.00 possibly to support at 1816.00/1814.00, even 1808.00.

Analysis provided by

For more information about how to trade Gold and Forex contact

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: