Intraday Analysis - ( 9 FEB 2023 )
Gold is currently in a no trade zone as seen above, like i always say price always mirrors historical price action. Where gold is ranging now is exactly where gold was ranging while awaiting the last CPI data to be released. While we wait for this month CPI data to be released on the 14th of Feb , we are ranging as well. I would not be surprised if we range here till next week when the data is released and we get a break out trade. Remember the long the consolidation , the bigger the breakout move. For swing traders, its best to wait for the break out of either side.
Gold is currently in a no trade zone as seen above, like i always say price always mirrors historical price action. Where gold is ranging now is exactly where gold was ranging while awaiting the last CPI data to be released. While we wait for this month CPI data to be released on the 14th of Feb , we are ranging as well. I would not be surprised if we range here till next week when the data is released and we get a break out trade. Remember the long the consolidation , the bigger the breakout move. For swing traders, its best to wait for the break out of either side.