Gold looks like a bounce is coming

Indicators on the monthly frame shows that gold is oversold, showing a small bullish divergence. BB band is squeezing with a confluence of 20 & 50 EMA flirting, predicting high volatility and possible bounce at this level. Also BB has been punctured by price, has already seen before the price has reacted by bouncing to the other end of the band. Price had bounce from a strong support at 1208 which is a confluence of Fib support level and previous bullish patterns and trend lines, making this level a strong support. The targets in the upcoming weeks is 1230-1240, which is a fib res level, if this resistance will be broken than the middle - low 1300 will be the final target. I expect a last pull back to 1210 in the next upcoming days before fully bounce to the targets.
More details in the chart.
Educational purpose only, please be aware that trading is really risky, do your own research.