Gold needs to find direction!


November 2020


Alex Cole

Gold is rallying in the current bar. Does this say anything about the uncertainty in the stock markets? While the markets around the world have rallied today and U.S. futures suggest that the same will happen in America, Gold has painted an amber “Go Fish” bar, suggesting that the blend of technical concepts in the GoNoGo Trend are unable to find a trend. 
At the same time, the GoNoGo Oscillator is testing the zero line from below. This should be resistance based on the preceding “NoGo” trend, but if the oscillator is able to break above zero into positive territory that would further signal the end of the “NoGo”.