Technical analysis of GOLD 03/04/2020
Gold quotes during the development of the downward correction is found support at the level of 1562.00 (50% Fibo) on the 1D timeframe, after what it is resumed growth and currently consolidating at the level of 1642.00.
The current technical view suggests that the ascending movement will continue above the last high of 1700.00 with the aim of developing to a historical max of 1900.00.
A signal to cancel the option to continue the growth will be a decline in quotes below the zone of 1500.00, what will mean a break (61.8% Fibo), (MA100), as well as an uptrend line on the 1D timeframe.
Created by Joshua Hayn