Gold is on a technical rebound after it hit the bottom of the 1 month Channel Down. It remains under both the MA50 and MA200 (4h) indicating significant short term upside potential.
Trading Plan: 1. Buy on the current market price.
Targets: 1. 1950 (under the Falling Resistance on a potential contact course with the MA200 (4h).
Tips: 1. The RSI (4h) got oversold on Friday and is now neutral, a further indication of the strong short term upside potential.