Gold can't handle H4 down trendline!
As you can see, gold have problem with H4 down trendline and MA200 in the last couple of days, but every drop has returned to the starting position. Still looking bullish, but losing momentum and decline to 1180 is possible if bulls didn’t manage to brake trendline today. 1208/10 is first target and resistance for bulls on the way up. As I wrote on my gold analysis last week, that level is 61.8 fibo return of the October 21. –> November 07. fall and 38.2 fibo of the July 10. –> November 07. fall is at 1215. Support as we can see is between 1180 and 1190.