Gold Attempts Higher Levels

Gold keeps testing 1735, the next level above 1729, our 0.236 Fibonacci level. We are edging above this level at the time of this writing. It does look like we are forming a bull consolidation pattern around 1735, potentially gearing up for a breakout. If so, the 0.382 Fibonacci level at 1758 is a reasonable target. If we retrace, we should hit support at the base of the 1700's, with 1705 in particular standing out as it has provided strong support in the past.