As I predicted, Gold bounced nicely from a key structure support .
Ahead is a strong confluence zone, based on a horizontal supply area and a falling trend line .
The reaction of the price to that structure will determine the future direction of gold .
Its bullish breakout will trigger a bullish continuation at least to 1787.
Ahead is a strong confluence zone, based on a horizontal supply area and a falling trend line .
The reaction of the price to that structure will determine the future direction of gold .
Its bullish breakout will trigger a bullish continuation at least to 1787.
Price action created a compression channel with divergence.
Notice there are tweezer top candles at the level ( bearish reversal pattern), which indicates a rejection .