Gold Price Forecast: XAU/USD bulls still eye $1,825 amid year-end trading – Confluence Detector Gold XAUUSD Confluences Commodities RiskAppetite
shows that the gold price needs a fresh spurt of buying to cross the Fibonacci 38.2% one-week resistance at $1,810.
In case bears flex their muscles, then $1,797 will be seen as a powerful barrier, where the Fibonacci 61.8% one-day aligns. The TCD is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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