📈 GOLD finds support on Daily Chart. Are Bulls ready? 🐂

Upon careful analysis of gold's Daily RSI, we have observed a consistent pattern of stability, indicating that there may be a growing interest from potential buyers. This suggests that the precious metal could be on the verge of rebounding from its recent slump. With the holiday season approaching, some investors may be anticipating a Santa Rally in December, but only time will tell if this is the case. Nonetheless, the current trend in gold's RSI is a positive sign that there may be a shift in market sentiment, which could potentially lead to a surge in demand.

On the 4-hourly chart, GLD, which is an exchange-traded fund that tracks the price of gold, is displaying a level of support. This indicates that the asset's price is not likely to decrease below this level, suggesting that it may be a good time to consider investing in gold.
GLD
https://www.tradingview.com/x/AiqRJUsl/

On the 4-hourly chart, it can be observed that GDX, which is an ETF that invests in gold mining companies, aligns with the same confirmation.
GDX
https://www.tradingview.com/x/Al8u4iUp/

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