Gold (XAU/USD) Price Forecast: Lacks Conviction Near Record – 10-Day Support Test Possible
FX Empire·2025-12-18 21:38

Potential Resistance at Record HighThere is the potential to strike strong resistance as the current record high of 4,381ischallenged.Todaysintradaypullbackisagoodexampleofthat.Giventhelackofupsidefollowthroughandweakmomentum,apullbacktotestresistancenearthe10dayaverageat4,381 is challenged. Today’s intraday pullback is a good example of that. Given the lack of upside follow through and weak momentum, a pullback to test resistance near the 10-day average at 4,268 currently could occur before another new high attempt. That average is supported by an uptrend line and two top trend channel lines as they each currently identify a similar potential area of suppor ...