As the US index goes under pressure, GOLD receives more support.
The support rests at 1831.41 with resistance at 1854.61 which the weekly pivot point at 1809.20 is located below the lines. EMA of 10 is moving with bullish bias in the short term ascendant channel and it is below EMA of 100 and 200. The Stochastic is moving in high ranges, the RSI is moving in overbought area and the MACD indicator is in positive territory. The ADX is showing buy signal.
Considering the correction pattern, buyers can expect level 61.8 of Fibonacci at 1890.
