Bond markets were closed yesterday due to the US holiday. We saw some profit taking and buying throughout the day yesterday. Below is a technical overview for your consideration.

Gold Daily

Price found support at MS3 which coincides with the 38.2 Fibonacci of December 2015 low and the July 2016 high. Resistance is highlighted in the fob zone above price and bottom of the previous range.

Gold H4

Price opened at WM2, came up to the H4 21 and dropped though has not made a lower low. This could be due to bond markets being closed yesterday or due to Gold currently being oversold. Resistance is identified in the pink highlighted zones.

Gold H1

Gold was bought off the 38.2% Fib during Asia. Resistance is identified in the pink zone between DPP and DM3 with the next level of support between the 50% and 61.8% Fibonacci, which coincides with the Bear daily profit zone.

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