Fresh Cycle High

• RES 4: $1998.4 - High Apr 18, 2022
• RES 3: $1982.0 - High Apr 19, 2022
• RES 2: $1963.0 - 76.4% retracement of the Mar - Sep 2022 bear leg
• RES 1: $1935.2 - High Apr 25, 2022
• PRICE: $1929.5 @ 07:26 GMT Jan 20
• SUP 1: $1896.7/67.4 - Low Jan 12 / 20-day EMA
• SUP 2: $1825.2 - Low Jan 5 and key near-term support
• SUP 3: $1797.1 - Low Dec 28
• SUP 4: $1774.0 - Low Dec 15

Trend conditions in Gold remain bullish and the yellow metal traded to a fresh cycle high on Thursday. This confirms an extension on the uptrend and maintains the price sequence of higher highs and higher lows. Note that moving average studies are in a bull mode position - reflecting the uptrend. The focus is on $1963.0 next, a Fibonacci retracement. Support to watch lies at $1867.4, the 20-day EMA. Short-term pullbacks are considered corrective.