As we can see in the Weekly chart below, Gold has had recent Weekly Closes above the 1221.17 and 1231.92 levels but was unable to close above the 1231.92 level last week.
As we can see in the Daily chart below, recent Highs and Lows have been around key levels related to the extension retracement range following the price activity of 15 October. We continue to view 1284 as an upside price objective related to this notional retracement extension range.
A close above 1240.04 on the Monthly chart below would be constructive and increase the possibility of a triple bottom formation.
Upside price objectives include 1244.85, 1262.52, and 1287.25.
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