Home Gold Technical Analysis: Bears test the 38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs

Gold Technical Analysis: Bears test the 38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs

Published date: 16 Apr. 2019 | 19:42

Price has extended below the 23.6% Fibo as well as the 20 and 50-D SMA to test below the 38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs located at 1275.
Daily momentum indicators remain bearish.
Below here, the 200-DMA will come into play, (1249/50% Fibo area).
On the upside, bulls need to get above 1303 with a look in at 1308 (61.8% Fibo) and the trendline resistance.
A break of resistance opens a run back to the Feb highs and 1350.

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