Gold regaining ground from trendline support
Gold has been turning higher following a fall into trendline support. Coming off the back of a ABC retracement into that ascending trendline, there is a good chance that this move is going to see us rally through the $1243 mark.
However, at the same time we could be looking at another potential retracement of the sell-off from $1237. While near-term upside looks likely, watch out for whether we respect Fibonacci resistance to tell us more about whether the selling is over or not.