Gold has been trading sideways around the level of $1,186.00. The short-term trend is neutral. I found strong trading range between the levels of $1,192.00 and $1,183.00. I am waiting for a clear breakout with strong volume to confirm further direction. Our Fibonacci retracement 50 % at the level of $1,187.00 is on the test. If the price breaks the level of $1,183.00, support levels will be set at $1,178.00 and $1,167.00.
Daily Fibonacci pivot points:
Trading recommendations: Price is in trading range (sideways). Wait for a clear breakout in a high volume to confirm further direction.
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