Gold is trading similar to silver, unfolding a minor, five-wave rally from the lows, and giving us a suggestion of a brief change in trend. If that is the case, then gold can also continue bullish from here and can retest the upper side of a bullish channel, where the decision will be made about the next potential higher degree move on the precious metal. We are talking about a bullish breakout or a further bearish scenario.

Gold, 4h

Check the video below for a more detailed analysis.

(Video length 00:08:31)