Today gold formed a Lower High and we can also see the decreasing volume and increasing price since last 4 candles of 4 hour chart. This means bulls are under pressure and price may come to test the levels of 1828 which is the lower level of value zone. I expect prices to rocket towards 1864 levels from 1828 if there is enough momentum here. This is going to be a crucial level to decide if gold will continue to range in the value zone or not. As we can see gold shifted to value area below control price on 6 Jan and is not able to move above till now. It tried to cross on the day it made high of 1848 but not able to go up. So in next attempt when it shoots up from 1828 the test will be at 1864. Here it will get a chance to go to value zone above the control price.
This week first gold will test the 1828 level and decide if it is going to stay in the value zone or not.
Next when prices go to 1864 there is second test to move to value zone above control price.
This week first gold will test the 1828 level and decide if it is going to stay in the value zone or not.
Next when prices go to 1864 there is second test to move to value zone above control price.
