GOLD (Prj.Y19.P2.E4).Macro.Bullish signs

2019-12-12 12:22:10

The price is holding up at a main fib. level and in a downward wedge formation.

Observations:
> Upward Trend is intacted
> 21 EMA on the Weekly acting as support
> RSI and Stoch indicating Hidden Bullish Divergence
> Previous resistance of 2012 can act as support or is trying to
> MediaNews: Gold is being sort out for risk management due to the fiat concerns, central banks are buying up gold, etc

3D Chart
https://www.tradingview.com/x/ny86fuCB/