Gold may rise to 1857 - 1864
Our preference
Long positions above 1841.00 with targets at 1857.00 & 1864.00 in extension.
Alternative scenario
Below 1841.00 look for further downside with 1835.00 & 1828.00 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up. The upside breakout of a declining trend line calls for a recovery.
Our preference
Long positions above 1841.00 with targets at 1857.00 & 1864.00 in extension.
Alternative scenario
Below 1841.00 look for further downside with 1835.00 & 1828.00 as targets.
Comment
The RSI has just landed on its neutrality area at 50% and is turning up. The upside breakout of a declining trend line calls for a recovery.