The gold price is stuck in familiar ranges, bouncing around between a daily resistance and support channel. However, like a coil, the build-up of energy and maintained force could be about to set off an almighty breakout, one way or the other. It is worth doing good risk management at this point due to the uncertainty of the Ukrain war crisis.
From a technical view, gold consolidation until either a clean break of 1,960 or 1,915 with firm daily closes above or below respectively. If the price is unable to break below 1,900, given the longer-term bullish trajectory, a run into the 2,000s is the more likely outcome of the build-up in this phase of consolidation.
From a technical view, gold consolidation until either a clean break of 1,960 or 1,915 with firm daily closes above or below respectively. If the price is unable to break below 1,900, given the longer-term bullish trajectory, a run into the 2,000s is the more likely outcome of the build-up in this phase of consolidation.