Gold Moving Higher in early trading on lackluster volume

New York (Mar 12)  Bears failed to take out 1151.00 support hinted in our previous reports and Gold is presently moving higher influenced by the positive divergence on MACD traditional and the strength of the support of secondary Fibonacci level. All eyes should be on 1173.00 as a break above it will bring further appreciation towards 61.8% level near 1200.00.

To recap, we should be patient until gold clears 76.4% Fibonacci to chase the corrective actions, while 1147.00-yesterdy’s low- should hold to keep this scenario valid.