Gold is bouncing off the trend line support
Gold is bouncing off the support uptrend line 1820. A confirmed bounce and a continuation of this level are giving us a higher probability of the long trade entries to target breakout above 1900 again. A reversal here and a break below 1820 is now required for the downside reversal. The overall medium-term is uptrend but we need to see a confirmation break above 1900 for the upside extension. As long as the Gold is above 1820 there will be an uptrend extension possibility in the 5th wave.
Note – We are inclined to long trade entries with the stop loss below 1820.
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