Gold price made new lower lows last week but the RSI has managed to produce another bullish divergence. Gold price remains technically in a bearish trend and there is still no confirmed upward reversal.
Support is at $1,764. Resistance is at $1,787 Bulls need to break above $1,787 and eventually recapture $1,800 and stay above it. Gold is at important Fibonacci support levels where we usually see trend reversals. At current levels I prefer to be neutral if not bullish Gold.
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