Hi Traders. In the previous Gold breakdown, i talked about potential rally back above the 1830 - 1870 range.
For now, as price is holding above 1830, forming some really choppy consolidation. I wouldn't try to guess the short-term direction yet.
But based on the the way it previously sold off from 1870 to 1807 (13th - 14th June), still managed to recover such a strong sell-off, i think there is a potential that Gold is either going back to its range bound condition, or just in some choppy markets.
To validate a mid to long-term Bullish reversal, we'll have to see price breaking above 1875.
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Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
For now, as price is holding above 1830, forming some really choppy consolidation. I wouldn't try to guess the short-term direction yet.
But based on the the way it previously sold off from 1870 to 1807 (13th - 14th June), still managed to recover such a strong sell-off, i think there is a potential that Gold is either going back to its range bound condition, or just in some choppy markets.
To validate a mid to long-term Bullish reversal, we'll have to see price breaking above 1875.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
