02 | Update

UPDATE - Gold did break the 50% Fibonacci based on weekly range on time frame 4H (left), but was not be able to stay above that level (1670) and declined instead after it reached around 127% Fibonacci based on daily range on time frame 1H (right) at around 1673.

The scenario remains the same as posted on weekly outlook.

Note: Level 127% Fibonacci was added, and this level is considered as a minor number but sometimes the price stops right there before touching the target at 161.8%. This theory goes to level 224% as well before touching the target at 261.8%. This case happened here.