This is my comprehensive analysis based on and indicators...
Based on a formed triangle its a key element day that if it reaches 1738 and higher it has good potentials for an upward trend.
This is also a scenario supported by bollinger bands since we see the price supporting the average. Also we see the upper and lower limit closing that means we expect a major event either up or down.
An another key element for an upward position is the today's volume that must rise higher than yesterday.
On the contrary the start of a selling rally is supported by the fact that gold seems to have difficulties proving right the technical indicators.
Nonetheless the bigger picture monthly and weekly chart present a possibility for a last upward trend up until 1820-30 while waiting for the next general correction path.
Based on a formed triangle its a key element day that if it reaches 1738 and higher it has good potentials for an upward trend.
This is also a scenario supported by bollinger bands since we see the price supporting the average. Also we see the upper and lower limit closing that means we expect a major event either up or down.
An another key element for an upward position is the today's volume that must rise higher than yesterday.
On the contrary the start of a selling rally is supported by the fact that gold seems to have difficulties proving right the technical indicators.
Nonetheless the bigger picture monthly and weekly chart present a possibility for a last upward trend up until 1820-30 while waiting for the next general correction path.