February 25, 2020
Spot gold trading near support at $1639 per ounce. Gold may fall to next support level at $1614.
The support at $1639 is identified as the 200% projection level on an uptrend from $1266. A shooting star forming around the resistance at $1684 indicates a reversal of the utrend from the Feb. 12 low of $1561.
Resistance is at $1667, a bread above which could lead to extend to $1684. Most likely gold may bounce moderately to $1669 before being reversed to $1615.
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