Gold – Bullish price RSI divergence and Cypher

23 giu 2016

Resistance - $1268, $1276, $1284

Support - $1260, $1257, $1252

• Bullish price RSI divergence on the hourly chart if followed by a break below minor sideways channel resistance would open doors for a re-test of $1276 (head and shoulder neckline).
  

• Further gains towards Cypher Leg D of $1303.65 cannot be ruled out over the next 24 hours if the speculation of Brexit catches fire before the results are released between 3 GMT to 6 GMT.
  

• On the other hand, an hourly closing below $1260 would indicate failure to bullish price RSI divergence and Cypher formation, thus a subsequent sell-off could take prices to $1252 levels.