The gold price has finally shown some reversal signs that we have been expecting for some time now. The pullback has started and I expect to see Gold price test support around $1,230-$1,220. My long-term view remains bullish.
Blue lines - support trend lines
The gold price has broken trend line support and both oscillators have turned lower showing that the correction phase has just started. I expect the gold price to move towards the Ichimoku cloud support and at least towards the 38% Fibonacci retracement. I expect Gold to make higher lows relative to $1,194.
