Gold hasn't really decided what direction to take yet and there are many theories for both scenarios. The price is currently moving inside a big channel and inside a smaller triangle and the only thing we need right now is a direction, DON'T trade before confirmation for direction! Fundamentally gold is a great investment, because of the uncertainty of currencies and the fed printing so much money. Most likely there will be crysis in real estate and stocks, so smart investors see gold as a lucrative investment against inflation and crash. On the other hand, the technicals show that gold has big divergence on weekly chart, we saw a huge rise in the price of gold too quick and made all time highs, so a correction would be a likely scenario. Another thing is that in the triangle, we have a few green candles that are negated by only 1-2 big red candles, so this means that the bears are stronger and they find it easier to bring the price down. My advice is wait for clear direction with strong movement in one direction and follow that movement once it's clear that it isn't a fakeout. Good luck, trade safe!
