Gold: Key Support Intact, but Gains May Be Limited

From dailypriceaction.com

The last time I mentioned gold was in the October 28th weekly forecast. At the time, the market was trading at 1233 and looked poised to test 1215 support given the recent bearish rejection candle that formed on the 26th. Here’s what I wrote on October 28th: As for resistance, we were keeping a close eye on the 1235 area. Similar to 1215, the 1235 area served as a pivot earlier this year and is also the December 2017 low. You can see how several sessions last week encountered selling pressure in the 1235 region. Friday even carved a bearish rejection candle that could hint at a pullback early this week. However, ... (full story)