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



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