Gold trades near $1305 on early Wednesday. The yellow metal recently reversed from 50% Fibonacci retracement of its January 24 to February 20 upmove, which in turn can drag the quote towards an upward sloping supportline stretched since March 07, at $1300 now. Should prices decline under $1300, the $1297 can offer immediate rest ahead of dragging them to multiple support area around $1291/90. In a case where prices slid under $1290, $1281 and January month low near $1276.70 may flash on seller’s radar. On the flip side, a successful break of $1311 could escalate the recovery in a direction to $1316 whereas $1321 and $1331 entertaining the buyers then after. Though, $1332.80 – $13333 horizontal area may limit the upside beyond $1331 if not then $1341 and $1347 can take their place on the chart. Gold 4-Hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next High-level US-china trade talks to resume in final push for deal – WSJ FX Street 4 years Gold trades near $1305 on early Wednesday. The yellow metal recently reversed from 50% Fibonacci retracement of its January 24 to February 20 upmove, which in turn can drag the quote towards an upward sloping supportline stretched since March 07, at $1300 now. Should prices decline under $1300, the $1297 can offer immediate rest ahead of dragging them to multiple support area around $1291/90. In a case where prices slid under $1290, $1281 and January month low near $1276.70 may flash on seller's radar. On the flip side, a successful break of $1311 could escalate the recovery in a direction… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
