Gold rally halted by strong tech resistance
Gold has had a quick drop from the highs at 1176 down to 1164 after failing at the first attempt of the 200 DMA at 1177
Gold daily chart
Aside from the 200 DMA the 1175/80 level has been a long term support and resistance level going back through to 2013 and is a level to keep a close focus on
At the moment the buyers need to pick themselves back up for another crack at the level or the tech sellers are going to assert their strength and push it lower. Let the battle commence
