Gold has formed a higher high and higher low that indicates potential for further upside. A break above yesterday's high will open the way towards $1,366. However downside will find support at $1,338. RSI and Stochastic are heading up.
I think I must buy on dips and keeping my stop loss bellow $1,338
Gold adjusted its previous declines to close at $1,319. Despite a positive closing, gold has formed a lower high and lower lo that indicates that the trend is weak.
The downside target remains intact at $1,301 followed by $1,280.
The indicators are mixed but I am buying Gold from $1,314.