Is gold is in a consolidation for a new high?
Gold hit $2,000 and retreat back to $1,760. It was the previous high volume level and the price reacted to that range.
From a Wyckoffian perspective, this may a consolidation range. A price move above the creek will be a sign of bullishness.
A price close for around a month above $1,959 will be a sign of strength. If the price stays above it, the chances of a new price high above $2,000 will be more likely.
A expect the price will stay in $1,760 - $2,000 range for a while.
From a Wyckoffian perspective, this may a consolidation range. A price move above the creek will be a sign of bullishness.
A price close for around a month above $1,959 will be a sign of strength. If the price stays above it, the chances of a new price high above $2,000 will be more likely.
A expect the price will stay in $1,760 - $2,000 range for a while.
Note
The price is moving into the range. Bullish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.