False break below support area
, possible hammer
, positive divergence on the 14 RSI
, Falling Wedge
- these are some bullish
signals which might announce a rally for gold
. The probability for an up move to start will increase once the upper line of the wedge
is broken. First target for a rally would be the 38.2 Fibo level. I will consider this idea invalidated if the price will close on a 60 minutes chart below 1.1220.