Long gold at current price (1218) with a stoploss below 1200, which is Triangle base and mid-term support ( Gold has bounced back twice at this level. Also there are two price & RSI divergences as shown on the chat by blue and red line. Also lower low made yesterday is within Bollinger Band's lower band while the earlier low was outside it. It signals a turn back.
Comment
⋅
IF 1200 is broken it may test it's next low of 1050. RSI is making new lows but price is testing 1200 on the weekly chart. So it is creating a divergence. SO it is important to see how it plays out.