- Bulls committed to the upside and target a break of 1528/30s.
- The 127.2% Fibo target is located around 1,560.
The price of the yellow metal has fliped back in a bullish trend, reversing losses seen in the prior session. The trend has been in development since a break above the 1450s and has been moving higher for the best part of August. The 1500 level was penetrated to 1480 in recent sessions but the bulls committed for a continuation, to the upside. From here, the 1528/30s come as a prior support area where the price was to be expected to hold initial tests. However, on a full-on break higher, bulls will look to the 127.2% Fibo target which is located around 1,560, guarding the Oct 2012 highs at 1795.
|Today last price||1516.9|
|Today Daily Change||0.60|
|Today Daily Change %||0.04|
|Today daily open||1516.3|
|Previous Daily High||1524.06|
|Previous Daily Low||1494.45|
|Previous Weekly High||1510.16|
|Previous Weekly Low||1436.96|
|Previous Monthly High||1452.72|
|Previous Monthly Low||1382.02|
|Daily Fibonacci 38.2%||1512.75|
|Daily Fibonacci 61.8%||1505.76|
|Daily Pivot Point S1||1499.15|
|Daily Pivot Point S2||1482|
|Daily Pivot Point S3||1469.54|
|Daily Pivot Point R1||1528.75|
|Daily Pivot Point R2||1541.21|
|Daily Pivot Point R3||1558.36|
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