Gold: New Buying Opportunity
Gold/U.S. Dollar FX:XAUUSD
The price bounced from the support zone . We got a trend reversal signal based on a bullish divergence and a double bottom as a trend reversal pattern. RSI confirmed the price reversal not far from the oversold zone. MACD is bullish and supports a possible upward movement.
We have a possible buying opportunity against the local downtrend. How to make a profit from it? It will depend on your trading experience and tools which you use.
I wish you good luck!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov