Waiting for the price to break out of range. Time limit, 9 workdays (Nov 20)
Important crossover. Retrace and rally possible
Yellow zone is a very strong resistance. A classic sell limit setup in pullback seems to be in order.
In the next 8 to 12 hours there will be no more room to play for the price.
1248 is critical. Dark cloud cover visible.
close below 7850 (twice 4hour) required for green target zone.
Yellow zone is the most important support. 1269 is the last threshold for a bullish trend.
Red circle is an important zone that if broken 1281 will be the next target. Failure to break past this zone will send Gold down to 1263.
Possible scenario and SR levels. Main trend is bearish of course and this will be a pullback.
One more bullish daily candle needed and the above targets would be placed within reach.
Valid break of black line leads to at least 200 pips down move. Ultimate target is at the top I believe.