Spot gold remains firmly in red as eased geopolitical and trade tensions revived demand for riskier assets.

The metal’s price eventually made clear break below pivotal Fibo support at $1547 (38.2% of $1445/$1611) after being congested here in past three days.

This generated bearish signal which would require confirmation on daily close below.

- advertisement -

Bears pressure daily Kijun-sen ($1534), with break here to expose $1528 (50% retracement) and $1520 (rising 20DMA).

South-heading daily indicators support scenario, but oversold stochastic requires caution, with bounce and repeated failure to clear $1547 pivot, to put bears on hold.

Res: 1547, 1550, 1564, 1572
Sup: 1534, 1528, 1520, 1508

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.