December 11, 2019
High volatility expected during UK election voting on 12 December and at the time of result announcement.
Currently spot gold trading at $1465.45 per ounce. Signals are mixed as it keeps bouncing towards a resistance at $1466. Resistance is provided by 50% projection level of a downward movement from $1515.40 This trend expected to extend to $1417.
A break below $1455, could leads towards $1417. Alternatively, a break above $1466 could aborted downward movement and will move towards $1478 or $1492. On daily chart, gold is consolidating within a short rising channel. The consolidation looks like a part of a bearish flag that developed from the Oct. 31 high of $1514. The downtrend from $1557 remains steady within a falling channel, which suggests a lower target at $1417.« Back to News & Reports List