GOLD 29/05: Gold on bank holiday!
Updated
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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