Gold extends below pivotal Fibo support, pressured by rising risk appetite
Spot gold remains firmly in red as eased geopolitical and trade tensions revived demand for riskier assets.
The metal’s price eventually made clear break below pivotal Fibo support at $1547 (38.2% of $1445/$1611) after being congested here in past three days.
This generated bearish signal which would require confirmation on daily close below.
Bears pressure daily Kijun-sen ($1534), with break here to expose $1528 (50% retracement) and $1520 (rising 20DMA).
South-heading daily indicators support scenario, but oversold stochastic requires caution, with bounce and repeated failure to clear $1547 pivot, to put bears on hold.
Res: 1547; 1550; 1564; 1572
Sup: 1534; 1528; 1520; 1508