GOLD (XAUUSD): Deep Consolidation & Your Trading Plan

8 בדצמ׳ 2024

Gold is trading in sideways range for more than 2 trading weeks already.
The recent high impact fundamental releases, did not manage to violate
its weakness.

Next week, pay attention to the reaction of the price to the support
and resistance of the underlined range.

If the price breaks and closes below 2605, it will open a potential
for a further bearish continuation to 2565.

Bullish breakout of the resistance of the range and a daily candle close above
2666 will confirm the strength of the buyers. The up movement will be expected
at least to 2715.

The absence of strong fundamental triggers will continue the consolidation.
Alternatively, you can trade the market within the range, buying from its support
and selling from its resistance.

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