The trend line mentioned has holding the price for last weeks. We are in a bullish trend in higher time-frame but first we need to do some retracement which currently we are in it. In fact this form of complicated moving pattern that we are seeing in gold for couple of weeks is due to to the nature of its wave structure which can be understand by EW theory.
The important thing is we see a break of this trend line and a strong candle (daily) closure below it, so we will be able to sell its retracement to the green box which I believe can be low risk long term buy zone. NOTE that this is a daily chart and you have to be patient.
The important thing is we see a break of this trend line and a strong candle (daily) closure below it, so we will be able to sell its retracement to the green box which I believe can be low risk long term buy zone. NOTE that this is a daily chart and you have to be patient.