Gold is correcting up after crashing down to a low of 1621,5, now is slowly trying to bounce to resistance that is between 1646 and 1655, I would sale a rejection on this area as there is no change on economics view and Gold is in a bearish mood as US Dollar keep movign north against other currency and metals; RSI on 1H is already overbought but RSI on 30 M is still moving to overbought area but not there so there is plenty of space for a bounce up soon, 15M is overbought and 4H is getting there, so there are mix signal but the indication is for a price that could move higher; i will wait in any case NY open to see the mood of the US market and than after confirmation would short a bounce up to a good spot were Gold will face resistance
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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.