Since the March and 2014-high near 1388, Gold (XAU/USD) has fell to 1240.50 in May, but has found support there.. So far in June, price has respected this 1240.50 low. The 1H chart shows xau/usd consolidating above 1240 for a few sessions. Last week, after the ECB announced its stimulus plans, gold rallied from this consolidation. We also saw price action test the price bottom, which traders treated as support. From purely price action perspective, gold looks like it is setting up for some short-term bullish attempt. In the 1H chart, the momentum is turning as well. The 1H RSI has tagged 70, and is holding above 40. ... (full story)