Gold Remains Above Support

The yellow metal prices failed to surpass the resistance level of 1784, which we mentioned during the previous analysis that it is still holding a strong obstacle to gold, to return to present negative trading at 1755.

On the technical side, the current movements of gold are witnessing a return to price stability above the support level of 1765, Fibonacci retracement of 50.0%.

This may increase the likelihood that we will see a rally again for the 1783/1784 visit. Return of stability in trading below 1765 is capable of foiling any attempts to rise and lead gold prices towards 1756, and then 1741 next stop.

Note: The level of risk may be high today.

S1: 1756.00	R1: 1788.00
S2: 1741.00	R2: 1801.00
S3: 1727.00	R3: 1817.00