Gold made a sharp recovery after the recent FOMC release from the mentioned support on the previous chart. Now, what could happen next for gold? It's currently approaching resistance level 1, where it might face rejection. However, to see selling pressure, it needs to break below the minimum of 2024.
The Center of Gravity (COG) remains valid with the following levels:
Support:
Resistance:
The bias is bullish above 2024. However, it turns bearish below 2024-2021.
The Center of Gravity (COG) remains valid with the following levels:
Support:
- 2024-2026
- 2016-2010
- 1996-1992
Resistance:
- 2042-2046
- 2054-2057
The bias is bullish above 2024. However, it turns bearish below 2024-2021.
