Gold has been trading in a messy consolidation since November. When we look at the daily chart and drown out the intra-session noise, we can see that the consolidation has been in the form of a triangle. The daily chart shows gold trading at the crossroad – between bullish signs since November and the prevailing downtrend since July. Strong bullish daily candlesticks along with higher lows suggest a shift in trend is occurring in gold. However, price has remained under a falling trendline from July and the 100-day SMA. The daily RSI has held below 60, which reflects maintenance of the prevailing bearish momentum. As ... (full story)