Gold - Technical Analysis: Tuesday, 21/03/2017 07:10 GMT

Gold price shows retreat since today's opening to start bearish correction for the last rise that started from 1197.00 areas, testing 23.6% Fibonacci level at 1226.00 now, forming the first support barrier that protects the expectation to rise.

RSI gains the positive momentum on the hourly time frame, to support the chances of achieving gains in the coming period, waiting to visit 1260.00 level mainly, noting that breaking 1217.00 will stop the expected rise and push the price towards more retreat on the short term basis.