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Gold analysis May 25


Gold continues to rise successfully above 23.6% Fibonacci with very small corrective waves, and while we await more strong corrective waves towards 1840-1820 to repurchase, we confirm that the general trend is still up, the strongest resistance is currently around 1890, which gold is trying to challenge during the past days, but Despite the failure of gold to rise above 1890, we did not experience strong declines as a result of that failure. Therefore, by steadily trading above 23.6% Fibonacci, we expect gold to succeed in rising above 1890, which is a very important area as the rise above that area will confirm the targeting of 1920 - 1960.

Below 23.6% Fibonacci will push gold to test a deep correction towards 1840-1820 before any rise

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