Simple short term possibilities for $gold on the hourly

7 Oca 2020

We are currently in a nice little down channel after the big gap up move. I see the MACD converging a bit with bullish divergence RSI pointing up so I believe that gives validity to my Green forecast which ends up being a lovely triangle which when we are in the type bull run tends to break out. Especially with the geopolitical issues with Iran/US not looking very good sadly. If we don't break out of the down channel soon then we will just continue along it until something else pops up and gives us reason to break, whether it be technical or fundamental.

7 Oca 2020

Not

Obviously not the reason we want for gold to go up but we have breakout and a large green candle