Gold - Failed To Break Resistance At $1221
Gold recovery is fading. The commodity is clearly in a consolidation phase. Hourly resistance is given at 1221 (22/11/2017 high). Hourly support lies at 1196 (19/01/2017 low). Strong support is located at 1122 (15/12/2016 low).
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).