Gold - rebound from rising trend line, points northwards
Resistance- $1270, $1284, $1295-1300
support - $1260, $1253, $1247
support - $1260, $1253, $1247
- Gold's rebound from rising trend line support despite bearish price RSI divergence seen on hourly chart indicates the bullish momentum is strong.
- Prices have moved above $1263 and appear on track to test resistance at $1270. A day end closing above $1266 today would signal possible rally to $1284 levels.
- On the other hand, an hourly closing below rising trend line (blue line on hourly) support at $1260 would also mark failure to sustain above falling trend line on daily chart and expose support at $1253-1247 levels.
