Spot Gold May Rise Into $4,198-$4,218 Range
Spot gold has broken resistance at $4,162, a 61.8% retracement of its downtrend from $4,218 to $4,073, and may rise toward $4,198-$4,218. It may also break resistance at $4,183 per ounce.
Spot gold may break above resistance at $4,183 per ounce and advance into the $4,198-$4,218 range. The metal has moved above resistance at $4,162, which is the 61.8% retracement of its decline from $4,218 to $4,073. This move raises the possibility of a return to the high of $4,218. The pattern between Oct…