Gold found support on the multiple bottom near 1,670. This level is also above 30$ the 200 weeks MA. The combination of a static and dynamic price levels, the most significant buy levels on a weekly charts, generated buying activity that could continue to 1,800 $/oz. Necessary to see a healthy development of higher highs and lows to attract more technical bullish positions.
In case bearish traders will get back in control Fibo retracements suggest static supports at 1,615 and then at 1,508 $/oz.
In case bearish traders will get back in control Fibo retracements suggest static supports at 1,615 and then at 1,508 $/oz.