Currently the price of gold is consolidating above the all important 1781.61level, it has failed to close below this level numerous times as well as the trendline acting as support. Currently price is near an important range zone around the 1792.00 area.
Price should move up towards the 1820.00 and 1850.00 levels on a long term perspective, to correct all the imbalances and previously violated levels of structure. With Friday being an all important announcement gold may continue to consolidate up until the day of the announcement.
NB:this is not financial advise, please to take in the analysis with a grain of salt.
Price should move up towards the 1820.00 and 1850.00 levels on a long term perspective, to correct all the imbalances and previously violated levels of structure. With Friday being an all important announcement gold may continue to consolidate up until the day of the announcement.
NB:this is not financial advise, please to take in the analysis with a grain of salt.