Commodities Analysis and Opinion
Gold Rebound Loses Momentum: Is It Ready to Resume Lower?
2024.12.17 14:11
The rebound that started in November has lost its upside momentum and is now testing again the ascending T/L support at $2645. A break below this T/L opens the downside again for another leg lower that can take us as deep as $2473.
Key resistance is now at $2720. The fate of the will clearly affect the metal but don’t forget that geopolitical developments can also have a big influence since gold is one of the best safe heavens.
