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After making a big push lower, Gold is showing signs of struggle taking out the 1200 level.
This area is a major support zone with the pair having been bid up several times from this area over the years.
On the smaller cycles, the pair has already broken a minor trendline. As well showing divergence in RSI as indicated by the eclipse.
Is the metal looking to bottom once again in this area for another leg higher?
This area is a major support zone with the pair having been bid up several times from this area over the years.
On the smaller cycles, the pair has already broken a minor trendline. As well showing divergence in RSI as indicated by the eclipse.
Is the metal looking to bottom once again in this area for another leg higher?
XAUUSD - 1H Chart