Gold Recovers Some Losses

Dec 2, 2020

Gold has recovered some of its losses. It got smashed down to 1777, where it was bought back to 1815, finding resistance briefly. This was a level we have identified for months. Next it crossed a vacuum zone to 1836, another level we have identified months ago. This was a sticking point for gold, so it is likely to see some resistance here, at least for today. Currently, it does look like it has rejected this level but its likely to find support at 1815, again. There is no dearth of vacuum zones either way here, and we are sitting at roughly a 50% retracement between relative lows and highs.