-
Gold’s Precarious Rally: Signs of Strength and Potential Setbacks
video Although gold triggered a continuation of the bounce on a rally above yesterday’s high, it was unable to sustain it. At the time of this writing gold is on track to complete the day near the opening price with a doji possible. Today’s price action reflects indecision and is not a sign of strength. Resistance was seen today at a high of 1,975 but the potential close reflects weakness. It puts the rally at risk of failure as the second day off the low is already showing signs of weakness. chart A drop below today’s low of 1,955 increases the chance for a test of support around recent lows and ... (full story)