Channel: The 4H gold chart shows a market that has been in a declining channel throughout October until it stopped around the 1700 psychological handle. Since then, gold has been consolidating against the channel, and today (11/1) broke above the trendline resistance. Breakout: The RSI broke above 60, showing that the bearish momentum is no longer persistent as it had been through October. Still price action to the upside is not convincing yet. In fact it looks like a flag pattern, which if broken to the downside introduces the bearish continuation scenario, with focus on clearing 1700. Below that, gold has the ... (full story)