Gold is still hovering around 1300.00, while yesterday’s pullback was a correction, but we see the metal nearing 1300.00 again, aiming to hit this psychological level.
Trading above 1280.00 is a positive signal, but we prefer to see the metal above 1290.00, targeting 1318.00 where 78.6% Fibonacci exists.
ADX is positive and also moving averages although RSI moves near 70.00.
Support: 1290.00 – 1280.00 – 1272.00
Resistance: 1300.00 – 1310.00 – 1318.00
Direction: Bullish
