Gold has gained its bullish momentum due to the saturation of Stochastic and RSI on the daily time frame to close yesterday’s low after achieving its second target for the bullish scenario at 1345 … The bullish scenario remains intact as long as the trades are above the ascending trend line shown on the chart To be his next target at 1365 … but he may need a bearish correction towards 1325-1330 to gather enough bullish momentum before heading to that target.
A close of at least four hours below the ascending slope line shown on the daily chart might be enough to end the bullish scenario and the price could then head to test support 1276 as first target and then support 1250 as a second target.
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