Gold snapped its five-day winning streak with a 0.19 percent gain on Thursday, confirming a bullish divergence of the relative strength index on the 4-hour and hourly charts. 4-hour chart As seen above, the RSI carved out a higher low yesterday as opposed to a new lower low on price and has found acceptance above 30.00. The bullish divergence indicates scope for a corrective bounce to $1,280-$1,285 resistance zone in the first half of the next week. The divergence, however, would fail if the price finds acceptance under the previous day’s low of $1,270. As of writing, the yellow metal is changing hands at $1,275 per Oz. Trend: Corrective bounce FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next LTC/USD Price Prediction: Bulls face a stack of resistances up front – Confluence Detector FX Street 4 years Gold snapped its five-day winning streak with a 0.19 percent gain on Thursday, confirming a bullish divergence of the relative strength index on the 4-hour and hourly charts. 4-hour chart As seen above, the RSI carved out a higher low yesterday as opposed to a new lower low on price and has found acceptance above 30.00. The bullish divergence indicates scope for a corrective bounce to $1,280-$1,285 resistance zone in the first half of the next week. The divergence, however, would fail if the price finds acceptance under the previous day's low of $1,270. As of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
