As the yellow metal's price recently made a rebound against a strong cluster of support and began a surge in various ascending channel patterns, which were soon broken, the situation needs to be reviewed. First of all it is clear that the pair bounced off a large scale ascending channel pattern's lower trend line, which means that the now mapped, short term channel up pattern is not likely to remain in force for a long time. It is quite possible that the 50.00% Fibonacci retracement level near the 1,250 mark, which is measured by connecting the 2016 low and high levels, will provide enough resistance to force a short term retreat. Afterwards the new medium term channel will slowly reveal itself.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1,258/59 | Weekly R1; 100 and 200-period SMAs | MACD (12; 26; 9) | Sell | Sell | Buy | ||
| R3 | 1,249 | 50.00% Fibo | RSI (14) | Neutral | Buy | Neutral | ||
| R2 | 1,242/44 | Trend; weekly PP; monthly S1; 55 SMA | Stochastic (5; 3; 3) | Sell | Neutral | Sell | ||
| R1 | 1,224 | Trend line | ADX (14) | Sell | Sell | Neutral | ||
| S1 | 1,222 | Trend line | CCI (14) | Neutral | Buy | Neutral | ||
| S2 | 1,219/18 | 38.20% Fibo; monthly S2 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1,212/11 | Weekly S2; trend line | Alligator (13; 8; 5) | Sell | Sell | Buy | ||
| S4 | 1,202 | Trend line | SAR (0.02; 0.2) | Sell | Sell | Buy | ||
| Aggregate | ↘ | → | ↗ |