Gold – Bullish price RSI divergence and Cypher
Resistance - $1268, $1276, $1284
Support - $1260, $1257, $1252
Support - $1260, $1257, $1252
- Bullish price RSI divergence on the hourly chart if followed by a break below minor sideways channel resistance would open doors for a re-test of $1276 (head and shoulder neckline).
- Further gains towards Cypher Leg D of $1303.65 cannot be ruled out over the next 24 hours if the speculation of Brexit catches fire before the results are released between 3 GMT to 6 GMT.
- On the other hand, an hourly closing below $1260 would indicate failure to bullish price RSI divergence and Cypher formation, thus a subsequent sell-off could take prices to $1252 levels.
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