GOLD (XAUUSD) | Fibonacci Retracement Test
Gold spot tests fibonacci level 38.20% with the main target at Fibonacci level 61.80% which it failed to breakout on 17 March.
The increase of Volume will contribute to a bullish breakout and retest at the initial target.
A positive sign is that the price bounced off of Major Support at 1451 two times (16 and 20 March).
This price movement made 1450 area a strong psychological level.
The increase of Volume will contribute to a bullish breakout and retest at the initial target.
A positive sign is that the price bounced off of Major Support at 1451 two times (16 and 20 March).
This price movement made 1450 area a strong psychological level.
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