Gold rebounded printing a strongly bullish candlestick formation on Friday; meanwhile RSI and MACD are showing a strong bullish divergence, which happens to be near the bottom of the long term sideways range and major support level at 1530.00. Accordingly, we expect the bounce to continue in the short term and for this week. ** Overall trend ( More than one year) ** Intermediate ( More than three months) ** Short term ( Less than three months) ** Chart is based on GMT+2 timing Notes:  *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
Support	1575.00	1565.00	1555.00	1549.00	1540.00
Resistance	1580.00	1590.00	1600.00	1605.00	1615.00
Recommendation	Based on the charts and explanations above, we prefer to long the metal above 1562.00 targeting 1580.00,1590.00 and 1600.00. Stop loss below 1549.00