Hey Traders,

gold continues to consolidate in a wedge on the daily charts:

golddaily3

With highlighted areas being key support and resistance levels on the break out.

On the hourly chart looks like a possible channel is forming with midline laminated with 200ema hourly acting as excellent s/r level:

goldhourly1

Will be watching these channels and trendlines closely for direction clues, and will update as new technical developments take place

Cheers

Vlad