Possible Double Bottom
Gold could very possibly be setting up a double bottom here, but with the medium-term trend still down it would be best to wait for confirmation from a break above at least 1780. For now, there is some support @ 1745 followed by more support @ 1705 should we see one more leg down. In terms of a strong bullish recovery back above 1780 there will be resistance from the key 1800 level where we have both the Daily 100 and 200 SMA's converging on diagonal resistance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.