Gold (XAU/USD) looking to make a strong rebound

Gold (XAU/USD) looking to make a strong rebound

Bears have been the headliners in the Gold’s price action across the board and according to the H4 chart, XAU/USD is expected to finish a correction started since three weeks ago. Between the 1280.95 and 1258.04 we’re expecting a demand zone to be found in order to gather momentum in favor of the bulls. If that happens, then we might expect a rally towards the -23.6% at 1393.38 level.

RSI indicator remains in the positive territory and invalidation zone for our outlook in the yellow metal is placed at the 1237.27 level.

XAUUSDmH4.png

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