dlifestyletrader

Gold Ranging, Buy at Demand

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold was up over 22 USD but threw most away through the US session.

We can see that the market structure is an upward ranging one thus any gains could easily lose momentum and return to the lower band of the range.

Right now, the price seems to have found support at 1768, but there's still quite a bit downside to reach the range bottom at 1760.

We will be looking for buying opportunity at the current level should the price continues to stay supported.

Otherwise, the best price would definitely comes after a fake-break of the current low and reach the demand level from 1764 to 1760.

Target wise we will aim for 1784 supply level .