Gold technical analysis: Bulls have their eyes on the 127.2% Fibo target up at $1,560

Ross J Burland FXStreet

Bulls have their eyes on the 127.2% Fibo target up at $1,560.
Meanwhile, on a reversion, a 23.6% retracement to the 1435 level comes into play.

Gold bulls are in control following last week's fight to safety on the trade war escalations between the US and China. Bulls have their eyes on the 127.2% Fibo target up at $1,560 while trading above the 20-day moving average and the 78.60% retracement of the recent ranges. The July swing highs of 1453.95 are a stone throw away at this juncture. Meanwhile, on a reversion, a 23.6% retracement to the 1435 level comes into play. 1421 marks the confluence of the 20, 50 and 200 daily moving averages.

XAU/USD

Overview
Today last price	1451.78
Today Daily Change	11.08
Today Daily Change %	0.77
Today daily open	1440.7

Trends
Daily SMA20	1420.4
Daily SMA50	1382.38
Daily SMA100	1335.94
Daily SMA200	1303.27

Levels
Previous Daily High	1455.8
Previous Daily Low	1430.4
Previous Weekly High	1455.8
Previous Weekly Low	1400.9
Previous Monthly High	1452.72
Previous Monthly Low	1382.02
Daily Fibonacci 38.2%	1440.1
Daily Fibonacci 61.8%	1446.1
Daily Pivot Point S1	1428.8
Daily Pivot Point S2	1416.9
Daily Pivot Point S3	1403.4
Daily Pivot Point R1	1454.2
Daily Pivot Point R2	1467.7
Daily Pivot Point R3	1479.6

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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