GOLD IN CONSOLIDATION
Gold broke highs at 1508, after going on a bull-run for the past couple of weeks. Gold seems to be consolidating so I see two possible outcomes.
(First possible outcome)
GOLD breaksout outwards, retest and could possibly reach 1611. This outcome has a higher possibility of happening as 1611 was its major resistance level April of 2013 in the next couple of months, going on a similar bull run as its previous price action did.
(Second possible outcome)
Gold breaksout downwards, retest, and breaks support levels until resting at its base at 1403.
(First possible outcome)
GOLD breaksout outwards, retest and could possibly reach 1611. This outcome has a higher possibility of happening as 1611 was its major resistance level April of 2013 in the next couple of months, going on a similar bull run as its previous price action did.
(Second possible outcome)
Gold breaksout downwards, retest, and breaks support levels until resting at its base at 1403.
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