Up $9 on the day
The price of gold is up about $9 in trading today and in process is moving closer to the Feb 20 2019 high at $1346.80. The high price today reached $1339.85. We currently trade at $1338.50.
Yesterday the high price reached $1344.16, before stalling ahead of that 2019 high, and backing off.
Drilling to the hourly chart below, a trend line support comes in at $1334 level and moving higher. That trend line was tested earlier today and bounced.
If the sellers are to wrestle some control from the buyers, that trend line would need to be broken (at the minimum). Other downside targets that would give seller more control, would come in at the rising 100 hour MA at $1324.04 currently.
Until those breaks, however, the buyer are in firm control for the precious metal.
