Gold Technical Analysis: Bullish divergence on the momentum indicators

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  • Technically, bears can look to break below 200-DMA around the confluence of 1249/50% Fibo area.
  • There is bullish divergence on the momentum indicators such as RSI and stochastics.
  • On the upside, bulls will need to get and stay above 1275 and then 1280 before 1303 with a look in at 1308 (61.8% Fibo) and the trendline resistance.

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