Gold (XAU/USD): waiting to resume the bullish path

Gold (XAU/USD): waiting to resume the bullish path

Gold has been erasing gains since Monday’s session and it’s trying to push higher at the current stage, given that a demand zone has been established between the 1281.06 and 1276.33 levels. Around that area we can expect that the yellow metal resume the bullish trend in order to reach the -23.6% Fibo level at 1304.25. To the downside, the invalidation point lies at 1272.04.

RSI indicator is reaching the neutral territory.

XAUUSDmH1.png

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