Charting is a science not an absolute. There are no technical indicators but there are trends.
Some people post hourly charts and make decisions.
That is good for the time span of the chart only.
You would never make a long term decision on a short term chart.
The short term gold chartist are claiming gold is a sell or short today using hourly figures.
But that forecast is only good for one day.
Below we see a 5 year chart of gold. Notice the chart direction is down. But you would not sell at this level after looking at this pattern.
The long term forecast of Gold is actually to go higher.
By selecting a time frame on the chart we can see both uptrends and downtrends forecasted.
Some people post hourly charts and make decisions.
That is good for the time span of the chart only.
You would never make a long term decision on a short term chart.
The short term gold chartist are claiming gold is a sell or short today using hourly figures.
But that forecast is only good for one day.
Below we see a 5 year chart of gold. Notice the chart direction is down. But you would not sell at this level after looking at this pattern.
The long term forecast of Gold is actually to go higher.
By selecting a time frame on the chart we can see both uptrends and downtrends forecasted.
Trade closed: target reached