Gold price rebound from the double bottom and now nearing the resistance area. Fundamentally the rise is due to the news that US is going to continue printing money. The price will rise if the fundamental is still intact. Technically ,the gold price is just above its minor support of 1338. The H4 tf chart show the price rejected from the bottom with a piercing pattern and now move higher. However the price must break above the resistance line to move higher.
The daily chart just show a morning star pattern indicating the possibility of a reversal trend. The price is just above the 100MA of main support area.
By The Backyard Burner
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