Gold Price Forecast: XAU/USD bears need to crack $1,850 to unleash further downside – Confluence Detector Gold XAUUSD Commodities Confluences Inflation
shows that the Gold Price rebound is on its way to challenging a bunch of healthy resistance levels around $1,865, which is the convergence of the Fibonacci 38.2% one-day and Fibonacci 23.6% one-week.
The next relevant upside barrier is seen at the pivot point one-day R1 at $1,877, above which the SMA10 one-day at $1,882 will be the level to beat for XAUUSD buyers.If the selling pressure intensifies, then the confluence of the previous week’s low and the previous day’s low of $1,852 will come into play.
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