GOLD: 2 Previous Weekly Closes Keep Spotlight on 1284

Our YouTube video illustrates Gold's previous two Weekly Closes above key retracement areas and we examine how Gold remains constructive as a result. A Gold video and post that we uploaded last week discusses the significance of recent ranges and we uploaded a similar Silver YouTube video and Silver post today.

Looking at the Weekly chart below, we can see the two previous Weekly Closes above 1221.17 and 1231.92 were technically significant, as was Gold's Low last week above the 1221.17 level.

Looking at the Daily chart below, we see the retracement extension range related to the October intramonth Low and wide range from 15 October and see how today's intraday Low and High are right between key retracement levels.

Upside price objectives remain 1245.51, 1253.07, 1269.65, and 1284.20.


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