Gold - Possible bullish cypher ahead

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Traders should watch out for a rebound from here.

Moreover, as stated in the morning outlook, a rebound from here followed by a break above $1255 could signal recovery ahead, especially since 4-hr RSI is oversold now and prices have failed to stay below daily 50-SMA on daily closing basis for last two trading sessions.

Hence, a rebound from here could signal a possible rise to "D".. which is seen around $1280 levels.
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