Spot Goldis consolidating after strong three-day rally that peaked at $1244 on Tuesday but maintaining firm near-term tone.
Monday’s close above double-Fibonacci barrier at $1239 has generated strong bullish signal for further advance.
Cracked daily Kijun-sen ($1242) is capping for now, with extended consolidation on overbought slow stochastic on daily chart, seen as likely near-term scenario.
Rising thick hourly cloud (spanned between $1235/30) underpins the action and should contain extended corrective dips, before fresh upside action (cloud base is reinforced by 200SMA).
Immediate targets lay at $1246/47 (converged 55/100SMA’s), followed by $1250 (50% retracement of $1296/$1204 descend) and daily cloud base ($1255).
Only return below $1230 pivot would sideline near-term bulls and signal stronger easing.
Res: 1244, 1246, 1247, 1250
Sup: 1235, 1230, 1225, 1220
