Gold price futures chart in the gold price futures chart

In the gold price futures chart, a bullish pennant pattern has formed, indicating potential continuation of the earlier rally towards $2,380–$2,400 if confirmed. Deteriorating technicals . Two very big down days in a row would suggest the bulls are exhausted and that market tops are in place. A technically bearish weekly low close on a Friday would also suggest bulls have run out of gas. Divergence in the Relative Strength Index, whereby the market makes a new for-the-move high, but the RSI does not. Such has already recently occurred in December gold and silver futures markets. Declining open interest in gold and silver futures on price rallies. Such has not occurred in gold and silver futures as open interest is rising — a bullish signal. Control a larger notional value for less money and reduce margin requirements >80%  when trading metal contracts in one exchange. Recent gold price futures chart data shows an uptick in average daily volume to 195K contracts, suggesting heightened market participation as geopolitical risks flare.