GOLD (XAUUSD) | Fibonacci Retracement Test

Gold spot tests fibonacci level 38.20% with the main target at Fibonacci level 61.80% which it failed to breakout on 17 March.

The increase of Volume will contribute to a bullish breakout and retest at the initial target.

A positive sign is that the price bounced off of Major Support at 1451 two times (16 and 20 March).

This price movement made 1450 area a strong psychological level.