Gold is trending between a strong demand zone, truce point for bulls and bears, no operation advisable.
However this pullback into the trend line could forecast jump into higher levels to an immediate previously twice tested price of 1853.50.
Strong RSI momentum could increase price up to short time resistance zone of 1865.
In the other hand a high level bearish divergence is found on MACD indicator caused by last hour bullish momentum. Divergence could signal lower prices if gold succeed to break immediate support zone of 1835
Recommend bulls operation: Wait for next candle opening above 1845 to confirm continuation of uptrend.
Recommend bears operation: Wait for next candle closing below 1835 to confirm downtrend rebound.
However this pullback into the trend line could forecast jump into higher levels to an immediate previously twice tested price of 1853.50.
Strong RSI momentum could increase price up to short time resistance zone of 1865.
In the other hand a high level bearish divergence is found on MACD indicator caused by last hour bullish momentum. Divergence could signal lower prices if gold succeed to break immediate support zone of 1835
Recommend bulls operation: Wait for next candle opening above 1845 to confirm continuation of uptrend.
Recommend bears operation: Wait for next candle closing below 1835 to confirm downtrend rebound.
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