Gold (XAU/USD) awaits to make a strong rebound

Read the article on FBS website

Gold has been trading in a negative tone across the board and remains capped by the 200 SMA at H1 chart. The 78.6% Fibonacci level is holding and it seems we could expect a strong support there in order to follow the overall bias towards the -23.6% Fibonacci target at 1375.80. To the downside, if such Fibo level gives up, then the next target would be the 1324.20 level.

RSI indicator remains in the negative territory.

XAUUSDH1.png

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.