Short and Long-term strategies may favor Gold strength, while intermediate-term strategies may continue to look for swing scenarios as COVID fears become more serious in the UK & Europe. Recent price action tell us Gold prices have now spent more than the past four months digesting after this summer’s run.
Price area on the chart has continued to form major price structures is 1859-1871: This zone caught support after that pullback first started in August and four months later, it came in as resistance last week to help hold buyers at bay.
Very simple targets of previous highs.
Target 1 - 1838
Target 2 - 1852