Gold has made a high at 2067 then started it next leg down and got to 1811. Bad news over the weekend and Gold starts it move higher again, caution required here, downtrend is still intact and this could well be a consolidation within the larger trend lower, upside resistance levels- 1935-1970 or even higher upto about 2000(round number).
Break above 2065 then expect 2160-2235 upside resistance or higher.
How Gold sets up is key for the upside and downside. Gold is still range bound between 1600-2075.
Downside price support = 1725-1665, break below here then expected support at 1620-1600.
Setup is important as Gold could have another consolidation from 1725-1665 back up to 1795-1815 then another move lower to 1620-1600...Break below 1620-1600 then expect 1560-1470.
Break above 2065 then expect 2160-2235 upside resistance or higher.
How Gold sets up is key for the upside and downside. Gold is still range bound between 1600-2075.
Downside price support = 1725-1665, break below here then expected support at 1620-1600.
Setup is important as Gold could have another consolidation from 1725-1665 back up to 1795-1815 then another move lower to 1620-1600...Break below 1620-1600 then expect 1560-1470.
