MarketDeal24.Com – The price of GOLD fell from $1,878 in November’s four-hour time frame to $1,877 and $1,887 yesterday as the US dollar index rose from 92.13. The recent price drop has brought price to Quasimodo support $1,852, with support below $1,835.
In the big time frame, the weekly price is currently below the support $1,882, followed by the channel resistance (currently support) from the maximum of $1,703. Daily time frame support $1,841 is currently paired with weekly channel support. There is also a downward wedge pattern in the daily time frame between $2,075 / $1,862.