Home Gold technical analysis: Holding above the 20-DMA, sights on 61.8% Fibo at 1290

Gold technical analysis: Holding above the 20-DMA, sights on 61.8% Fibo at 1290

Updated: 28 May. 2019 | 00:12

Gold prices hold above the 20-D EMA channel resistance as stochastics continuing to lean bullish as the price leans against the mid-August 2018 major-uptrend’s support line.
A re-run of the downside, however, will open prospects for the double bottom lows at 1266 ahead of 1262.
Below there, the 200 DMA is located at 1257 while 1251 marks the 10th Dec swing highs.
On the flipside, bulls can target the 61.8% Fibo at 1290 ahead of 1297 as the trend line/channel resistance.
1303 is recent swing fractal high.

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