Gold at crossroads…

Gold is currently in a downtrend, still below EMA(weekly)55 and the descending trendline (black line) from 2012.Weekly RSI is below 60-65 resistance zone.

http://goldenopportunitytrading.blogspot.com/2015/01/gold-at-crossroads.html?utm_source=mcverryreport.com

Daily chart, shows price of gold currently hitting the heavy resistance trendline(black) and daily RSI entering the resistance zone of 60-65.

Bulls need to see gold to break the descending trendline  with substantially increased volume and preferably  daily RSI above 65.We believe that there is a good chance for gold to bounce at resistance and continue its downtrend.