The price of Gold has been parabolic today, at the time of writing this $XAU is trading near 4060 in cash market and in futures its almost 4320.
Gold has been up from 0.618(4215) fib level, and now consolidating below the fib level 0.786, there are solid chances that Gold may face rejection from the fib level of 0.786-0.812(4288-4320).
And it also near to test 200dma(4278).
Now Gold will test multiple resistance so trade cautiously and make profit.
Gold has been up from 0.618(4215) fib level, and now consolidating below the fib level 0.786, there are solid chances that Gold may face rejection from the fib level of 0.786-0.812(4288-4320).
And it also near to test 200dma(4278).
Now Gold will test multiple resistance so trade cautiously and make profit.