The Technical Confluence Detector shows that the Gold price grinds higher past short-term key hurdles, now supports, which in turn suggests a smooth road unless hitting the wall of resistance around $1,865 comprising Fibonacci 38.2% on one month.
That said, a convergence of the Pivot Point one-day R2, Fibonacci 161.8% on daily and the middle band of the Bollinger on one-day, close to $1,845, appears a small check for the bulls.
Also likely to act as minor resistances are the levels comprising Pivot Point one-day R3 and Pivot Point one-week R2, respectively around $1,849 and $1,862.
Alternatively, previous high on four-hour and Fibonacci 23.6% on one month timeframe together highlight $1,841 as the immediate support.
Following that, Fibonacci 23.6% on one-day and Fibonacci 61.8% on one week, around $1,833 at the attest, can act as the last defense of the Gold buyers.
It’s worth observing that 50-HMA and Fibonacci 61.8% on one-day, close to $1,835, acts as an extra filter towards the south.
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