Gold bulls returning after 4 down days

Gold prices look set to bounce over the near-term after they closed lower for a fourth consecutive day. Monday's aggressive selloff held above $2400, and a late recovery saw half of the day's losses handed back - to close the day with a lower wick. Tuesday's range held above Monday's low and mostly traded within Monday's lower wick, which suggest liquidity gaps are being filled and support is beginning to build.

The 1-hour chart shows that a bullish divergence formed with RSI (14), and a series of lower wicks further shows a loss of bearish momentum. Prices are now testing trend resistance, a break above which brings the 2460 highs and high-volume node (HVN) into focus around 2473.
Nota
It started well, but initial gains were handed back. Still, it looks like bulls are returning for another crack at target.
Candlestick AnalysisGoldgoldanalysisMetalsMultiple Time Frame AnalysisSupport and ResistanceswingtradingXAUXAUUSD

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