Spot Gold extends bull-leg from $1195 trough into sixth straight day on Wednesday and hit fresh three week high at $1249, after meeting Fibo 76.4% target at $1247.
Gold benefits from weaker dollar and renewed safe-haven demand on doubts about pro-growth economic agenda of US President Trump.
Daily studies are strong bullish mode and supportive for final push towards targets at $1260 (200SMA) and $1263(27 Feb top).
However, strongly overbought slow stochastic signals that bulls might be delayed, but no firmer bearish signal being generated so far.
Broken Fibo 61.8% at $1237 offers solid support, ahead of 20SMA / broken 50% retracement at $1229, which is expected to contain extended dips.
Res: 1249, 1258, 1260, 1263
Sup: 1243, 1237, 1229, 1226
