Gold price is showing signs of reversal from our target area of $1,350. Bears need to break below $1,320 for the bearish scenario to play out. Expecting Gold to push lower towards $1,250-70.
Gold price is trading above the Ichimoku cloud. Short-term support is at $1,328 and resistance is at $1,345. A break below $1,325 will be a bearish sign as price will be breaking below the cloud and the red trend line support. Next target will be 61.8% Fibonacci retracement of the rise from $1,200.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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