Gold support bounce
Gold is bouncing off the upside support 1820. A break above 1870 is required for an upside reversal and continuation higher. A rejection here and a break below 1820 could lead to a reversal lower. The overall medium-term is uptrend but we need to see a confirmation break above 1910 for an extension higher. As long as the Gold is above 1820 there is a high probability that it will have an upside continuation.
Note – We are inclined to long trade entries with the stop loss below 1830.
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.