GOLD : Farewell to Bears?

GOLD Price as seen on H4 Chart tested MA100 Support , and reacted.
It was important the GOLD price to close above 1250 USD for Bullish trend.
First target level for GOLD is 1264 USD where two FIBO retracement lines are waiting as a resistance.
Break out of 1264 will confirm us 1275.

XAUUSD GOLD is bulllish and 1283 and 1295 levels are possible to be reached.



gold

Spot gold extended gains after minutes of the Federal Reserve’s last meeting showed that while officials expect further interest-rate increases soon, they said “it would be prudent” to wait for evidence that a recent slowdown in economic activity had been transitory.

Volatility has been a stranger to gold, despite a plethora of potential geopolitical triggers.

XAUUSD GOLD H4 Chart :

As seen on the GOLD H4 Chart , price tested MA50 SUPPORT @1259 but could not break the support.

Gold Price headed up from 1259 to 1264 usd FIBO 61.80 resistance level.

XAUUSD price is above FIBO retracement level and MA20 .

The first target will be 1270 . After 1270 USD gold price will test 1275.75 and 1280 USD .

We still LONG on XAUUSD .

You can read the previous GOLD TRADE IDEA :

After the price reaches 1280 I will decide the short term direction. There can be some reatracement to use as a short term sell opportunity.

I will keep you updated.