Gold continues to regain ground from key support
Gold is gradually moving higher, following on from a retracement into trendline and Fibonacci support.
The question here is whether we are going to see another rally into the $1240 region, or else post another lower low. That should be partially answered by the response (or lack thereof) at Fibonacci levels. Thus far we have done nothing to show that this is a retracement, yet with the 76.4% Fibonacci level up ahead, the response at that $1227 price should tell us a lot about whether we continue to rise or not.