Gold regained traction after a bearish shut on Wednesday, with recent power being pushed by weaker greenback on Thursday.
The steel is on observe to ultimately register a weekly shut above $1800, following a a number of failures in previous 4 weeks and to interrupt from three-week congestion, outlined by a triple weekly Doji.
Weekly shut above $1800 would generate an preliminary constructive sign which would require a affirmation on break above $1842 (50% retracement of $2070/$1614) and sign bullish continuation of an uptrend from Sep-Nov $1614 base.
Technical research on every day chart are in full bullish setup and supportive, although bulls could face headwinds, as merchants stay cautious and await for additional alerts and markets function in vacation mode with decrease volumes.
Res: 1824; 1833; 1842; 1855
Sup: 1800; 1788; 1773; 1765
