Gold price analysis: The bulls came back to the race

Gold is accumulating around the zone $1760/oz to $1790/oz. The reason is that because the financial eyes on Wall Street have focused on crypto assets, Bitcoin. The US Securities and Exchange Commission (SEC) and the US Treasury Department give the green light to the Bitcoin Exchange (which means Long/Short) and push the money poured into the ETF fund to trade Bitcoin. Although BTC is still not considered as a currency. Moreover, the largest gold ETF fund, SPDR Gold, has been withdrawn over 2.2 billion dollars since August. By estimate, more than 5.5 billion dollars have been withdrawn over the world from the 3rd quarter by other funds.
The DXY - US Dollar Index fell down 0.8 point (1.02%) because the FED has not released any significant signal that the QE will slow down any sooner and the interest rate will climb up.

This week, there will be 2 speeches from other Chairman of the FED that affect the US economy.

MA analysis

On the daily chart, both the MA20/MA50 had a reversal signal, coming closer to the MA200. The bullish trend is rising on this chart.

On the 4-hour chart, both the MA20/MA50 crossed the MA200 and climbed up significantly. It shows that the bulls started to make a huge impact on the gold from now.

On the 1-hour chart, the MA20 climbed up and got over the MA50/MA200. The MA50 also got a huge wave and crossed over the MA200. In conclusion, the bulls is dominating this chart.

Fibonacci analysis

The Fibonacci indicator is measured on the daily chart at 2 levels:

The $1920/oz: This is a double top pattern, which is made in the last 6 months.

The $1680/oz: The strongest support in the past 2 years.

Gold has drawn a bullish trend and sideways between the Fibonacci 38.2 and Fibonacci 50. If gold breaks the Fibonacci 50, it will head to the Fibonacci 61.8.