The price is stuck in 1270-1280 band since 20th October, which is unusual for gold_ market. Neither bulls nor bears are strong enough to push the price out of the band.
The limits of consolidation zone seems to work quite better than other technical indicators.
Basing on the market expectations on USD strength, I remain bearish as long as the mid-October high level_1305 is not broken.
Gold_price could not break above _1290 even after the disappointment on US Senate tax plan last week, instead we saw a sharp reaction from the latest supply zone.
This week is full of economic data and speeches from Central Banks. I hope we can see the expected volatility during the week.
Themis tries to bring justice to the market, but this is not the way gold_market works…
The limits of consolidation zone seems to work quite better than other technical indicators.
Basing on the market expectations on USD strength, I remain bearish as long as the mid-October high level_1305 is not broken.
Gold_price could not break above _1290 even after the disappointment on US Senate tax plan last week, instead we saw a sharp reaction from the latest supply zone.
This week is full of economic data and speeches from Central Banks. I hope we can see the expected volatility during the week.
Themis tries to bring justice to the market, but this is not the way gold_market works…