Prices have fallen sharply and is now trading close to 1122 region of support/resistance
. A lot happening here. Firstly, a potential bullish divergence
taking shape, with stochs making a lower low and price possibly making a higher lower in comparison.
Plotting the median line
on the recent PA, prices broke the median line
and then bounced higher only to drift back lower. A closing candle at/below median line
+ 1122 support level
could mean its time to exit as prices could fall to 1111/1100 region.
So for now, Gold
remains a 'watch' and see how price reacts at 1122/1120 region.