The weekly chart of Gold looks interesting for possible buying. The price reached the uptrend line and we have a reversal candlestick pattern. RSI is in the oversold zone and it can give a solid signal confirming the price reversal. In spite of MACD and DMI show the strength of bears, the current levels are good for the price reversal with further upward movement to 1300.00 or the previous highs at 1370.00 level.
The lower time frames can provide good entry levels for buying. Stop orders must be placed below 1200.00 level and take-profit orders at the resistance levels.
The lower time frames can provide good entry levels for buying. Stop orders must be placed below 1200.00 level and take-profit orders at the resistance levels.
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