Gold May Have Hit A Bottom

Price make a new 3-month low at 1445.50 but in the form of a High Wave candlestick pattern. The candlestick pattern is a warning of a possible low in place and price is currently capped by a downtrend line as well as the 20EMA. A move above 1462 would be bullish and hint of a price move to 1481. MACD is warning with bullish divergence while Stochastic is turning up.

Price has moved above the downtrend line and 20EMA resistance point. Both MACD and Stochastic are rising. The next resistance point lies at 1468.40 and higher at 1472.90. Price should be testing these 2 levels over the next 48 hours.

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