Gold has been consolidating over the last two and a half months. It did everything to confuse everybody.
But besides all this short-term noise there has been a very important and extremely bullish development.
The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded...
After getting a break in the Weekly channel for XAUUSD , and a break in structure at 1232, I have very bullish sentiments on gold. I'm expecting a retest of resistance at 1307, 1345, and potentially 1391.