Type: Bullish ContinuationKey Levels:Resistance: 1964.4Pivot: 1935.3Support: 1923.7Preferred Case:Prices are consolidating in a triangle pattern. We see the potential for further bullish continuation from our Pivot at 1935.3 in line 23.6% Fibonacci retracement towards our 1st resistance at 1964.4 in line with 78.6% Fibonacci Extension and 100% Fibonacci Extension. Our bullish bias is further supported by prices trading above our ichimoku clouds.Alternative Scenario:If prices were to reverse, they can potentially dip towards our 1st support at 1923.7 which is a graphical swing low and also in line with 38.2% Fibonacci retracement.Fundamentals:As the renewed attacks and scheduled negotiations are on the way, we would expect the precious metal to maintain bids as a safe-haven asset. Downward pressure would only come from raised hopes of negotiation, and resolution, between the warring nations.
Source: Tickmill