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.
Comment:
The price is moving into the range. Bullish.