After Yesterday drop to 1275, Gold rallied nicely to current level of 1295 touching orange new trendline formed after bull trap of some days ago.
Only daily close may confirm a bullish market. Current spike seems more a "take profit" of Yesterday massive sell. US market rallied gold, so it could be expected a drop.
RSI on overbought (not at all at 4hr).
Let see how it evolves.
Let the money talks
***Just a trading idea/opinion, NOT financial reccomendation/advice ***
Only daily close may confirm a bullish market. Current spike seems more a "take profit" of Yesterday massive sell. US market rallied gold, so it could be expected a drop.
RSI on overbought (not at all at 4hr).
Let see how it evolves.
Let the money talks
***Just a trading idea/opinion, NOT financial reccomendation/advice ***
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