The pair is rebounding after hitting a new daily low at 1137.43 dollars per ounce of gold. Traders expect the precious metal could rebound, as it's a favorable investment, taking into account the uncertainties surrounding the global economy.It's trading at 1163.68 dollars per ounce. The bands of Bollinger are showing high volatility, indicating a possible return to the middle band (1180), while the one hour candles RSI is around the oversold area.
The CCI shows selling signs, right now.
If the trend reverts, traders will focus on the support at 1150 dollars per ounce.