Gold: Eyes on $1800 Levels

Gold prices made noticeable gains last Friday, within the expected bullish context during the previous analysis, touching the official target station 1768, recording the highest level of 1800.

Technically, and by looking at the 4-hour chart, the prices settled above 1768 represented by the 61.80% Fibonacci correction as shown on the chart, and we find that the RSI continues to provide positive signals in the short intervals.

Therefore, we maintain our positive outlook, towards the next official station 1799 50.0% Fibonacci retracement. However, trading and stabilizing the price again below 1768 put the price under negative pressure, with a target of 1760/1759, a first target that may extend later towards 1745.

S1: 1760.00	R1: 1789.00
S2: 1741.00	R2: 1800.00
S3: 1731.00	R3:  1818.00