Analysis Technical analysis

The Daily Market Watch: GOLD, SPX500 & EURNZD (17.12.21)

Gold prices bounced at the $1755 support and soared above the $1800 handle, eying the $1812 resistance next. With bulls remaining strong as prices print a 0.60% gain intraday sentiment could switch hands at $1815.

The SPX delivered the expected all-time high yesterday and nosedived as traders took profits. Although up 0.10% for the day, bears will most likely add on to the shorts at higher levels if not sooner. A structural break can really change the medium-term path for the index.

EURNZD has rejected the the1.66 support at the 23.6% Fibonacci, offering an incredible bounce that might send prices closer to 1.70 than back to 1.63. The pair is trading 0.17% up so far in the session; can we get a weekly close above 1.67?


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