Gold drops to key trendline support and bounces during volatile Asian trading session

Gold drops to key trendline support and bounces during volatile Asian trading session

Gold dipped to an intraday low of 1862 highlighted on the previous post where the key trendline support sits from the March low to last week’s highs. A strong bounce has seen us back to a high so far of 1937. Support should sit back now at 1900 (yesterday’s low) with key resistance now at 1960. A close above 1960 would indicate a possible bottom has been put in at the rising trendline and momentum would be for a move back higher.

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