Since our last analysis, gold has been trading sideways around the level of $1,088.00. As we had expected, the price tested the second major support at the level of $1,085.00. We can observe a massive volume spike (selling climax) in the background, which is a sign level of $1,085.00. Anyway, if the price breaks the major support level ($1,079.00), we may see potential testing at $1,043.00.
Daily Fibonacci pivot points:
Trading recommendations: Watch for a potential breakout of our trading range. If the price breaks the level of $1,079.50 in a high volume, we may see a continuation downward .