Gold about to leave the support zone
Gold is about to leave a support zone which is located between the motive fib retracement 50% (1.298$) and a swing line at 1.320$.
In this zone the last losses have been stopped.
This up-movement is confirmed by RSI, which has turned to up and is also about to cross the falling trend line.
As well MACD gives positive signs, the blue line triggered the signal line.
If Gold has left the support zone it could rise up to 1.350$ - where it hits the long descending trend line. A very strong resistance which has not been broken in the past.
At this point I see our Take-profit zone.
In the case that Gold crosses the resistance the next aim should be the last high at 1.378$
Stop:
when falling back into support zone or even breaking the support (under 1.250$)
In this zone the last losses have been stopped.
This up-movement is confirmed by RSI, which has turned to up and is also about to cross the falling trend line.
As well MACD gives positive signs, the blue line triggered the signal line.
If Gold has left the support zone it could rise up to 1.350$ - where it hits the long descending trend line. A very strong resistance which has not been broken in the past.
At this point I see our Take-profit zone.
In the case that Gold crosses the resistance the next aim should be the last high at 1.378$
Stop:
when falling back into support zone or even breaking the support (under 1.250$)