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Gold - bulls eye $1265 target; consolidation to precede fresh rally

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD Spot Gold remains well supported and posts fresh 3-week high on extension of yesterday’s almost $20 strong rally. Yesterday’s close above 1254 (Fibo 61.8% of 1283/1208 pullback), generated bullish signal for further gains, as gold is boosted by strong safe-haven demand. Daily MA’s turned into full bullish setup, as rising daily Ichimoku cloud continues to underpin ascend, which emerged from 1208, where daily double-bottom was formed. Gold is looking for next target at 1265 (Fibo 76.4%),

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