GOLD pushing off the 382 fib level - bulls taking higher?
Looking at the 4h and daily time frames we can see that price has bounced/rejected the 382 fib level and could be looking to push higher.
There was a small order block below around 2310 which price headed towards before making a reversal. This area presented the 382 fib level which has had some short term rejections. With this, the 382 is likely to predict a 618 extension which is 2366 region. Ambitious right now but still a very likely chance given the circumstances.
So we have a fib level rejection
Price rejecting order blocks
Price is currently at resistance and will need to break key levels above before this target is hit.
There was a small order block below around 2310 which price headed towards before making a reversal. This area presented the 382 fib level which has had some short term rejections. With this, the 382 is likely to predict a 618 extension which is 2366 region. Ambitious right now but still a very likely chance given the circumstances.
So we have a fib level rejection
Price rejecting order blocks
Price is currently at resistance and will need to break key levels above before this target is hit.
Related publications
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.