After 2-months range was resolved to downside, Gold was sold off aggressively from $1,300 to $1,240 where it found support. With wide, ignited, green candle 3-days consolidations resistance at $1,248 was broken and now gold is showing some commitment and building nice upper-level base in front of local resistance at $1,257.5. Break above could attract more dip buyers with next target at $1,268 where 21 EMA lies on daily chart.
Also, we have intermidiate support at $1,252 whick was pierced for a while on noise (news) but buyers regained control really quickly.
Also, we have intermidiate support at $1,252 whick was pierced for a while on noise (news) but buyers regained control really quickly.
