Strong Support Holding Gold Price... SHORT TERM BULLISH!!!
Looking at gold price, we managed to see a 461.8% fib rejection after a long BEARISH trend. This give us a short term retracement trading opportunity. From H1 timeframe, we can see that the retracement confirmation candle was seen. The levels I will be looking at will be the trend resistance level (dotted line) as well as the 361.8% fib level. We might see rejection at these levels if the BEARISH trends continue or else gold might present a potential reversal trade opportunity, giving us a good risk to reward after seeing our confirmation candle. I will update on that after this short term BULLISH movement.
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