Last Friday gold rebounded from psychological $1200 level. Such a movement was accorded with my analysis from May 31. However, I expected that rebound will happen below $20.
Right now gold has clear technical situation. After the price breaks up from downtrend line in February gold has been moving in uptrend. Last decline was only the correction which achieved 38.2% retracement of previous upward movement. Current goal for gold is located at $1300 but on the way there is $1260 resistance. You can look for buy signal at $1240 support to join the uptrend.
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Time-frame H4
Time-frame D1
