Since few days, gold is in a trading range between 1240$ and 1275$.
I 'll go long on 1275$ breakout or after an another cycle in this range (1240$)
I like this red resistance line which acting like resistance (3 times) and support (1 time).
A triangle can be drawn, and gold can reach its hypothenuse (and EMA 34).
Theroical Targets are 1620$ for up trend and 890$ for down trend. I've a bearish bias, and if prices reach this red resistance and are rejected, gold would see 1180$ again.
I 'll go long on 1275$ breakout or after an another cycle in this range (1240$)
I like this red resistance line which acting like resistance (3 times) and support (1 time).
A triangle can be drawn, and gold can reach its hypothenuse (and EMA 34).
Theroical Targets are 1620$ for up trend and 890$ for down trend. I've a bearish bias, and if prices reach this red resistance and are rejected, gold would see 1180$ again.