Gold looking good to break out from the bear channel

OANDA:XAUUSD   Gold Spot / U.S. Dollar
MACD giving a positive divergence and Gold is also looking oversold in terms of the distance from the 200DMA. Good chance that we get a solid rally. Good mean reversion at play here.
Trade active: The price is now around 1150 and facing some resistance, we could take partial profits and let the remaining positions run.