FX.co ★ Gold 12.19.2019 - Multiply rejections of the Fibonacci 61.8%, watch for buying opportunities with first target at $1.480

Gold has been trading in consolidation phase for days at the price of $1.476.I found the multiply rejections of the Fibonacci support at $1.473, which is sign that buyers are still present..

I do expect further upside movement and test of $1.480 and $1.486

MACD oscillator is showing positive reading above the zero

Stochastic oscillator is showing oversold condition and fresh new bull cross, which is another confirmation for our bullish view.

Resistance levels are seen at $1.480 and $1.486

Support levels are set at $1.473 and $1.470