Gold is playing within a larger range of 1959.33 - 1676.69
You can see on the chart that the price is currently around the equilibrium of this range.
Price has also retraced back into the consolidation zone highlighted in the yellow box.
Note Gold consolidated in a similar manner back in July 2020 before it broke out to an all-time high.
WHAT TO LOOK OUT FOR?
The zone of 1808-1843 is now key to establishing long term direction.
Price could reject around 1843 zone and change direction although this would not be in line with expectations.
Break above 1843 zone and retest will set up for a long term and the price is likely to break out of the larger range to the upside.
WHAT'S OUR BIAS?
We are on Gold , taking into consideration all the fundamentals and we are expecting the price to resume its .
A price drop and a D1 candle body close below 1750 will negate the outlook.
1987 is our target on Gold within this quarter.