I've drawn a chart here that shows how the price of gold in US dollars has moved in the last few weeks. You'll see red and white bars—these are called 'candles,' and each one tells us what happened with gold's price in a 4-hour period. Red means the price closed lower than it opened, and white means it closed higher.
I've also added a couple of lines and shapes to help us guess where the price might go next. The white line going up is a trend line that's been supporting the price—it's like a ramp that the price has been bouncing off of. The green box is an area where the price has bounced up before, so I'm watching that spot closely.
And see that green arrow? That's where I'm thinking the price could go up again, based on everything I'm seeing. But remember, this is just my take, and the markets can always surprise us!
Trade closed manually:
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