XAU/USD
Spot Gold trades in the near-term consolidative mode, holding within narrow range, off important 1329 barrier. Near-term studies are positively aligned and favor further extension of recovery rally from fresh low at 1251, as the price penetrates daily cloud base at 1320, with daily Kijun-sen line protecting the downside for now.
Break above Friday’s high and Fibonacci at 61.8% retracement of 1374/1251 descend, to open 1345, 76.4% retracement and 1351, 30/09 peak. Bullish 20/55DMA’s crossover, reinforces psychological 1300 support and only break here would weaken near-term structure.
Resistance: 1329; 1337; 1345; 1351
Support: 1311; 1300; 1289; 1274
XAU/USD Hour Chart" title="XAU/USD Hour Chart" width="800" height="400" src="https://d1-invdn-com.akamaized.net/content/pic23001a496fcd628069233aab927b2c8e.png">