COMEX CALL: BUY XAUUSD ABOVE 1823 TARGET 1828 STOPLOSS 1818
The Technical Confluence Detector shows that the Gold price stays firmer past the Fibonacci 38.2% one-day resistance, now support at $1,813. Also increasing the strength of the stated resistance-turned-support is the Fibonacci 23.6% one-week and middle band of the hourly Bollinger. That said, the Gold price is firmly on the way to the previous daily high and Pivot Point one-week R1 surrounding $1,820. Following that, multiple hurdles near $1,825 could test the upside momentum before directing XAU/USD buyers to the $1,833 hurdle encompassing Point one-month R1. On the contrary, a downside break of the $1,813 key support could drag the prices to the $1,805 support including the 5-DMA, Point one-day S1 and 200-HMA. It’s worth noting that the quote’s weakness past $1,805 will seek validation from the $1,800 threshold before welcoming the Gold bears.
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