Gold Outlook on Daily

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is about to approach a major daily consolidation area, where it ranges between 1320 and 1360. It managed to spike in there and return back out in Sept 2017, but returned again 4 months later.

The first (left most) zone lasted 3 whole months and the second lasting 4 whole months.

If gold manages to close inside this area, we can see a ranging pattern from 1320 and 1360.


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