Page 7 - Gold Technical Analysis News Today

Gold is eyeing the 1984 resistance following the miss in the US CPI.

The miss in the US CPI report led to a rally in Gold.

Gold is threatening a breakout to the downside.

Make it or break it moment for gold as it consolidates near a key support.

Make it or break it moment for gold as it bounces from a key trendlin

On the daily chart , we can see that gold has recently bounced on the strong support zone at the 1934 level

Rising real yields and a strong USD are weighing on gold.

The yellow metal is trading down by more than -5% since peaking near $2,000 last week and is now testing its lowest level in more than two months.

A close near current levels would shift the near-term technical bias in favor of the bears, with the next support level to watch coming in around $1870...

There were no “bombshells”; the central bank’s intentions as of its January meeting were the same as traders had expected and priced in. Gold is nonetheless well-positioned to rally as it tests 1870 resistance...