Gold is near a significant support

The XAU/USD pair after a corrective decline, fell below the significant support level of 1310.00, relieving the overbought after a long increase, but at the same time maintaining an upward trend. The zone of rebound, in which the turn is expected, is located from 1310.00 to 1300.00, which corresponds to the lower limit of the ascending channel. After that, the test of resistance levels is expected: 1320.00 and 1330.00. Zone of rebound after the formation of a reversal acts as support. Purchase deals should be considered when forming a reversal and consolidation above the zone 1310-13.00.

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Hanzenko Anton

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