Gold has had a phenomenal run, but even the strongest trends need to cool off. With RSI divergence and MACD weakness setting in, the probability of a pullback is growing. If the market fails to regain bullish momentum soon from 3290.00, than the next move of Gold could be 3,206.00, the next key test for XAU/USD in the Forex market.
Whether you’re trading gold intraday or holding swing positions, now’s the time to pay close attention to momentum indicators and support zones. As always, lets go to analyze the chart to guide your strategy — not the headlines.
