Gold - Technical Analysis: Tuesday, 11/04/2017 05:40 GMT

Gold price showed some decline yesterday but it returns to settle above 23.6% Fibonacci correction level, indicating that the chances are valid to resume the main bullish trend, waiting to visit the recently recorded top at 1270.94 initially, and surpassing this level will push the price towards our main waited target at 1277.00.

It is important to note that the continuation of the bullish wave depends on trading stability above 1235.00, as breaking this level represents negative factor that will cause a turn at the intraday trend to the downside.