Gold’s hourly chart is reporting a bullish indicator divergence. A bounce to $1,457-$1,460 could be in the offing. Gold is currently trading at $1,455 per Oz, having hit a low of $1,451.50 an hour ago. The recovery could be extended further, possibly to $1,457-$1,460, as the hourly chart is reporting a bullish divergence of the relative strength index and MACD histogram. A bullish divergence occurs when the indicator creates higher lows, contradicting lower lows on price and is considered a sign of seller exhaustion. Note that the overall outlook will remain bearish as long as the trendline connecting September and November highs is intact. Also, the hourly chart bullish outlook would be invalidated if prices drop below $1,451.50. Hourly chart Trend: Minor bounce likely Technical levels 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 USTR Lighthizer confirms call with China today FX Street 3 years Gold's hourly chart is reporting a bullish indicator divergence. A bounce to $1,457-$1,460 could be in the offing. Gold is currently trading at $1,455 per Oz, having hit a low of $1,451.50 an hour ago. The recovery could be extended further, possibly to $1,457-$1,460, as the hourly chart is reporting a bullish divergence of the relative strength index and MACD histogram. A bullish divergence occurs when the indicator creates higher lows, contradicting lower lows on price and is considered a sign of seller exhaustion. Note that the overall outlook will remain bearish as long as… 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.
