In recent days, we could observe a strong rebound in the precious metals market. However, gold hit a key resistance zone today at $1850, where sellers reappeared. If the price fails to break above, another downward wave cannot be excluded. The first target for sellers is located at $1817, followed by a round level of $1800. On the other hand if buyers will manage to break above the aforementioned resistance at $1850 after the weekend, then upward impulse may accelerate. The next important resistance lies at $1895.
Gold interval H4. Source: xStation5
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Gold interval M30. Source: xStation5
