December 31, 2019
Spot gold may test a resistance at $1,531 per ounce. It could lead to a gain to $1,542, if crossed $1531.
The resistance is identified as the 76.4% retracement of the downtrend from $1,557 to $1,445.18. Following the break above the 61.8% retracement of $1,514, gold is highly likely to revisit the high of $1,557.
A break below $1,514, now a support, may cause a fall to $1,501.
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