Gold (1H) - short term bullish bias
The precious metal has reached the lower end of 1450s in hope of finding buyers to keep its head up. The demand area around 1450 is critical to maintain what looks like an extended consolidation instead of a bearish reversal. The bullish RSI divergence is a sign that selling momentum has decreased, which could give bullion a chance to rebound. A confirmation would be a break above the immediate resistance level of 1460.
Key support: 1450
Key resistance: 1463
The precious metal has reached the lower end of 1450s in hope of finding buyers to keep its head up. The demand area around 1450 is critical to maintain what looks like an extended consolidation instead of a bearish reversal. The bullish RSI divergence is a sign that selling momentum has decreased, which could give bullion a chance to rebound. A confirmation would be a break above the immediate resistance level of 1460.
Key support: 1450
Key resistance: 1463
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.
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.