GOLD upside in the short term
Bullish
- Daily price broke below lower Bollinger band and has recovered above it
- Hourly chart shows strong price action as it broke above the Bollinger band
Bearish
- Daily MACD is crossing below centreline
- Daily RSI is below 50 indicating, the price is still trading in a negative territory
- Expect some resistance on daily chart as the price is now reached its previous support and the 50 EMA can act as resistance as well