Gold- stuck in range with important 1663-65 median zone
Updated
After the touch the falling trend line of the channel at the beginning of the month, Gold fell and looked like is resuming its down move.
However, this drop was stopped by 1640 support and at this moment, the price is stuck in a range between 1640 and 1680 important resistance.
1663-65 zone acts as a pivot at this moment and a daily close above this level would signal 1640 as a higher low.
In such an instance, a break above 1680 becomes probable and we can assist in a rise back above 1700 in the next days.
I'm slightly bullish at this moment and, as I said, 1665 could bring clarification.
However, this drop was stopped by 1640 support and at this moment, the price is stuck in a range between 1640 and 1680 important resistance.
1663-65 zone acts as a pivot at this moment and a daily close above this level would signal 1640 as a higher low.
In such an instance, a break above 1680 becomes probable and we can assist in a rise back above 1700 in the next days.
I'm slightly bullish at this moment and, as I said, 1665 could bring clarification.
Note
Gold failed to rise above 1663-1665 zone resistance and dropped under previous low instead.1615 is in play now
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