GOLD The gold price rally moves closer to a key near-term upside barrier around 1950$, which includes the one-day Fibonacci 38.2% and the previous monthly low.In the event that XAU/USD remains more stable past 1950$, the convergence of 5-DMA, previous daily lows and one-day Pivot Point R1, near 1955$, could spur Gold buyers before giving them the right. control.
It should be noted that the 200-HMA, one-week 61.8% Fibonacci and one-day Pivot Point R2 together form 1,965$ which is the ultimate defense of the Gold sellers.
On the other hand, the common 61.8% one-day Fibonacci and one-month Pivot Point S1 provide major short-term support near 1950$ before highlighting the previous daily low and one-day Pivot Point S1, near 1940$.
Trade closed: stop reached
HIT SL, I will update soon
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.