XAU/USD
the Gold price grinds higher towards the key resistance confluence comprising the Fibonacci 38.2% on one month and Pivot Point one day R1, around $1,903.
Before that, Fibonacci 61.8% on one day could challenge the Gold buyers around $1,897.
On an immediate basis, Fibonacci 23.6% on one week guards the XAU/USD upside around $1,885.
Meanwhile, Fibonacci 61.8% on one month, close to $1,870, puts a floor under the Gold price.
In a case where XAU/USD remains weak past $1,870, it’s downturn towards the previous monthly low surrounding $1,825 can’t be ruled out.
Overall, the Gold price remains bearish unless staying below $1,905.
Before that, Fibonacci 61.8% on one day could challenge the Gold buyers around $1,897.
On an immediate basis, Fibonacci 23.6% on one week guards the XAU/USD upside around $1,885.
Meanwhile, Fibonacci 61.8% on one month, close to $1,870, puts a floor under the Gold price.
In a case where XAU/USD remains weak past $1,870, it’s downturn towards the previous monthly low surrounding $1,825 can’t be ruled out.
Overall, the Gold price remains bearish unless staying below $1,905.
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