The bulls have prevailed! 15 min Chart

GOLD continues to trade within an upward trend sending bears into winter hibernation. As the FED interest hike is baked into December, and the Global stocks markets catching a cold, Gold trend up seems to be gathering momentum. It broke above the channel and hit 78.6 Fib level finding a support at the upper channel line. We might seem a sideways movement and a bullish pennant formation, which will send the price further. It is possible that it might retrace back to the channel zone, where the first support line is 1289, and then 1284, but overall the sentiment is bullish.

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