FX.co ★ XAU/USD bounced perfectly above our buying level, remain bullish

Price has bounced perfectly yesterday above our major support at 1202.86 (Fibonacci projection, Fibonacci retracement, horizontal swing low support) and we expect a push up from here towards 1231.91.

RSI (34) is seeing major bullish divergence vs price signalling a major reversal is approaching.

Stochastic (21,5,3) is seeing major support from 5.55% signalling a bounce is impending.

Buy above 1202.86. Stop loss at 1180.91. Take profit at 1231.91.