Gold did exactly what I expected yesterday. Gold reached my yesterday's down target at $1.415 and it rejected strongly. The resistance at $1.429 would be critical for further upside movement.
Trading recommendation:
Yellow rectangle – $1.415 Support
Blue horizontal line – $1.429 important resistance pivot
Blue rectangle – Resistance $1.441
MACD oscillator is showing decreasing in the down power and the slow MACD line did turn from bearish to bullish, which is sign for the further upside movement. Pay attention to the level of $1.429 cause it is very important pivot-resistance. In case of the up break, there is potential for Gold going towards $1.441. If Gold doesn't break the resistance, re-test of the $1.415 would be possible.
