Gold (XAU/USD) prices stay on the front foot near intraday high of $1820 during Tuesday’s Asian session.
The yellow metal portrayed a sluggish start to the week while marking a Doji candlestick on Monday following the two-day downside.
=> a clear upside break of the 61.8% Fibonacci retracement (Fibo.) - $1830 -1833 that become necessary for the gold buyers to retake control. Following that, the run-up could aim for around $1850 ahead of $1875.
=> Alternatively, pullback moves may aim for the 50% and 38.2% Fibo. levels, respectively near $1813 and $1,800 threshold. A convergence of the 100-DMA and an ascending support line from December 15, around $1793, becomes a strong support for the gold sellers to watch afterward.
The yellow metal portrayed a sluggish start to the week while marking a Doji candlestick on Monday following the two-day downside.
=> a clear upside break of the 61.8% Fibonacci retracement (Fibo.) - $1830 -1833 that become necessary for the gold buyers to retake control. Following that, the run-up could aim for around $1850 ahead of $1875.
=> Alternatively, pullback moves may aim for the 50% and 38.2% Fibo. levels, respectively near $1813 and $1,800 threshold. A convergence of the 100-DMA and an ascending support line from December 15, around $1793, becomes a strong support for the gold sellers to watch afterward.
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.
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.