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TECHNICAL ANALYSIS OF GLOBAL FINANCIAL MARKETS STRATEGIC OVERVIEW OF MACRO ECONOMY & GEOPOLITICS

Gold is re-testing a 5-month support!

Gold (XAUUSD, $1,836) having failed to sustain gains above $1,900 level, sold-off sharply and presently re-testing a 5 months former resistance (red line), which should now act as a support. From August till November, 2020, gold failed to overcome red resistance line on a number of attempts; only succeeded on December 17th, 2020. Gold should be able to hold above red line and find support at $1,815 - 1,835. This post is not an investment advise.

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