- The next stop for Gold bears on the radar is a 38.2% Fibo retracement down at 1446.
- Bulls will need to get back above 1,550 which then guards prospects for 1,590.
On a correction, however, the 21-day moving average is key on the upside, but the bears can approach 1,478 as the 13 August volatility spike low which guards the 19 July swing highs at 1,452.93. at this juncture. Bulls will need to get back above 1,550 which then guards prospects for 1,590 as the 127.2% Fibo target area.
Gold's Daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.