The Gold price remains inside the downward sloping wedge pattern. The Gold price got rejected at the upper wedge boundary yesterday.
Red line - bullish divergence
The Gold price continues to make lower lows and lower highs. The trend remains bearish. Support is at $1,212 and next at $1,200. Resistance is at $1,230 and $1,235. Bulls need to break out above the wedge pattern for a bigger bounce to come. The bullish divergence signs justify a bigger bounce.
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