GOLD pushing off the 382 fib level - bulls taking higher?
Looking at the 4h and daily time frames we can see that price has bounced/rejected the 382 fib level and could be looking to push higher.
There was a small order block below around 2310 which price headed towards before making a reversal. This area presented the 382 fib level which has had some short term rejections. With this, the 382 is likely to predict a 618 extension which is 2366 region. Ambitious right now but still a very likely chance given the circumstances.
So we have a fib level rejection
Price rejecting order blocks
Price is currently at resistance and will need to break key levels above before this target is hit.
There was a small order block below around 2310 which price headed towards before making a reversal. This area presented the 382 fib level which has had some short term rejections. With this, the 382 is likely to predict a 618 extension which is 2366 region. Ambitious right now but still a very likely chance given the circumstances.
So we have a fib level rejection
Price rejecting order blocks
Price is currently at resistance and will need to break key levels above before this target is hit.
