Copper broken key resistance level and is set for higher prices
Gold is once again struggling at 1,680
Silver and Platinum testing key resistance levels. Likely to break higher
Gold/Silver ratio looks heavy
Gold XAUUSD is struggling to break back above the 1,680 level that acts like a pivot where gold has been revolving the past couple of months. 55 SMA is also once again Acting as a strong resistance. RSI is also struggling to break above 60 threshold to switch to positive sentiment.
If Gold closes above 1,608 next key resistance is at around 1,735. A close above 1,735 will reverse or at least demolish the current medium-term downtrend and the Double top picture as illustrated on the weekly chart.
If that scenario plays out – a close above 1,735 – the major key resistance is at 1,808.
If gold closes above 1,735 the previously mentioned possible double top pattern scenario is demolished. See weekly