Gold Spot / U.S. DollarUpdated Gold in Symmetrical Triangle
With Gold stuck in consolidation over the past few days, there is still no clear winner between the bulls and bears, it's anyones chicken diner at this time. The uncertainty in currency have the bears licking their paws with hopes of a crash for Gold to the 1680 area. My bias is for the bulls on this one , because of the upward breakout on the RSI trend line which indicates a slightly stronger bull presence lurking in the shadows. BUT as I said, it could go either way. It appears that only a high impact fundamental announcement will break this deadlock.
Note
Looks like a few buy stop hunters trying to trap bulls. So beware bears the traps are being set for you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.