Gold has been trading downwards. The price reached the level of $1.450 but it reversed aggressively of our key support zone. My advice is still to watch for buying opportunities and eventual test of the $1.461 and $1.472.
MACD had 3pushes down and bullish divergence in the background, which was key technical condition that caused Gold to rally. Additionally, there was the breakout of the downward channel in the background.
Key support level is set at the price of $1.450 and important resistance levels are set at $1.461 and $1.472.
