The tool shows that gold is trapped between powerful barriers aligned at either sides.
Therefore, the bull-bear tug-of-war extends while the price remains capped below the strong hurdle of $1944, the convergence of the SMA50 one-hour and Fibonacci 38.2% one-month.
The next resistance at $1950 is a fierce one, as the Fibonacci 38.2% one-week coincides with the pivot point one-day R1 at the point.
A sustained move above the latter will boost the buying pressure towards the next soft cap at $1951, the previous day high.


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