Gold has been trading downwards in the past 24 hours. The price tested the major support cluster at the level of $1,486. Be very careful with selling since there is potential rally coming.
Yellow rectangle – Recent swing low like potential resistance
Blue horizontal lines – Support levels
Rising purple line – Expected path
MACD oscillator is showing potential bullish divergence and my advice is to watch for buying opportunities. The first upward target is set at the price of $1,501. Key support level is set at the price of $1,483. As long as the level of $1,483 is holding, watch for buying opportunities.
