Gold struggles to defend the bounce off the $1,780 support confluence, comprising the 100-SMA and a five-week-old ascending trend line.
That said, bullish MACD signals and firmer RSI (14) keep Gold buyers hopeful of crossing the one-week-old descending resistance line, around $1800.
However, an upward-sloping trend line from November 15, close to $1,830 by the press time, will be a tough nut to crack for the Gold buyers.
Alternatively, a downside break of the $1,780 support confluence could quickly drag the Gold price toward the monthly low near $1,765.
Following that, a six-week-long horizontal support area surrounding $1,720 could challenge the Gold bears before highlighting the $1,700 threshold!
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