Gold bounced up $40 from retracement fans, a specific area where two retracement fans confluenced roughly at 1892. Now gold finds resistances at the old resistance 1833, which is the area where the orange line - 50% retracement fan line resides. Gold must overcome this area 1830-35 to find the next resistance area at 1855-1860, which is also another area where two retracement fans confluence. Failure to get above 1830-1835 can lead gold fall back down to support at 1812 or even further at 1800.
Trade closed: target reached
All targets reached
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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.