Gold could see a corrective bounce above $1,290, as the 4-hour chart is showing signs of bearish exhaustion.
Gold Technical Analysis Report
Spot Gold May Rise into $1253 —$1258 Level
Gold Silver Reports (GSR ) – On the daily chart, the gain on Monday confirms a break above the former resistance at $1,238, the 14.6 percent projection level of a downward wave C from $1,366.07. The next Resistance will be at $1,305.
Gold Prices May Fall Further After Breaking Chart Support – Gold Silver Reports
GOLD TECHNICAL ANALYSIS Gold Silver Reports (GSR) — Gold prices look to be resuming the dominant decline launched in mid-April after breaking counter-trend support guiding the upswing from August lows. A daily close below the August 24 lowat $ 1,183 opens the door for a test of the swing bottom …
Gold Traders Await FOMC Meeting
Gold Silver Reports (GSR) – Technically, no change in the pattern. Support key around $1,220; resistance at $1,237. August sometimes can surprise. Markets are very thin and many big producers in Europe are closed or at limited capacity. Will not take much for volatility to increase.