Gold Repeats The Bullish Attack

We adhered to the intraday neutrality at the end of last week’s trading due to the conflicting technical signals and the high-risk levels coupled with the expected return.

Technically, we find that gold prices achieved a pivot on the support floor of 1845, which forced the price to rebound bullishly again to retest the main resistance 1768 represented by the 23.60% Fibonacci correction, unable to breach it so far, the simple moving averages support the bullish price curve in addition to the positive signs of the strength index Relativity continues to gain bullish momentum.

Despite the technical factors that increase the possibility of a rise, we prefer to confirm the breach of 1768 to confirm the continuation of the rise towards the extended target 1873 and 1882, respectively.

Stochastic is around overbought areas, which may increase the possibility of a decline, targeting retests of 1850 and 1836. Note: risks equal opportunities.

S1: 1850.00	R1: 1868.00
S2: 1836.00	R2: 1873.00
S3: 1827.00	R3:  1882.00