Gold is currently testing the 1290 $ area which is near major resistance of 1315-1320. I expect correction down movement to 1240 $ which is important support area. I don´t expect a restest of 1200 $ because there is a higher demand for gold in due to political fights between USA/China and many other dangers in current world economic situation. MACD and RSI looking for me like an bearish trend reversal. Targets are drawn in the chart.
If the 1290 $ resistance breaks open an long position because price will then move up to 1315 $ which is selling target.
If the 1290 $ resistance breaks open an long position because price will then move up to 1315 $ which is selling target.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
