Gold gets bid up pre US inflation data dump

Gold gets bid up pre US inflation data dump

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Orlando Gutierrez

Updated: 13 October 2022

Key Support: 1792.50 – 185.90
Key resistance: 1809.20

Gold has been trading in a very defined range since it broke with the 1787 level last Friday. This level is capping the downside in this market.

Looking at historic price action, this level was THE base al throughout July and it has been a key pivotal level since.

The immediate structure is bullish and the last 1H candle engulfed the last 7 hourly candles on a bounce of yesterday’s highs.

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