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ABC Bullion

February 2022 Technical Report - Precious Metals Analysis

18 February 2022

Gold in January made a spot high of US$1,853.87, just within US$10 of the Weekly Cloud top, a key resistance level for gold in recent months, before sliding off over sixty US dollars to a wan-looking close at around US$1,791, the weakest close since early December.

Crucially, the spot price held above another important line that has been supportive of gold since mid-December, and despite rising real rates, gold managed to recover again, tentatively at first and then aggressively with the increase in Russian aggression towards the Ukraine.... 
 
Warm regards,
Nicholas Frappell
for ABC Bullion


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