Gold Update

Gold rejected from the area which was highlighted in a previous analysis.
IMHO it first has to break out of descending Pitchfork on the 1-hourly chart and take out the high of yesterday before further upside is on the cards.

Short term set-ups.

Short set up.
-Entry @ confluence area of descending pitchfork and median line of rising channel.
-Stop above yesterday high and look for a break out of rising channel.
-Target, maybe a reach towards July high @ 1453

Long set up.
-Entry @ rising channel support and yesterdays low.
-Stop loss @ 1458
-Target @ 1480

1-Hour Chart.

4-Hour Chart

Daily Chart