DrAnandM

Consolidation to continue?

DrAnandM Zaktualizowano   
FX:XAUUSD   Złoto / Dolar USA
Gold might continue to consolidate before next trending move.

Range is Huge.

Even Consolidation may provide decent Trading opportunities.

2330 is again going to be the crucial zone

Below 2330,

2275 zone could be tested

If 2330 is respected, 2390 zone could be tested.

Rest Of the Analysis on Daily Basis
Komentarz:
Level correction
2385 zone +-5 And not 2390
Komentarz:
Some Bearish Price action Upfront..

2275 looks likely below 2320

If 2275 not Respected, then 2245 could be tested..
Komentarz:
Below 2320

2300
2275
2245

Possible Targets
Komentarz:
SC only above 2345
Komentarz:
Gold has taken support around 2320.

Above 2345 zone,
2365
2385 could be tested
Komentarz:
As mentioned gold couldn't break 2345.

So Most likely downside break possible
Komentarz:
Gold happens to keep making higher highs as part of retracement.

2345
2325

Trending move on either side break.
In between is going to be no trading zone
Komentarz:
Some Change in Sentiment I guess..

Gold might be preparing for another rally.

2315 zone could provide decent support.

Only below 2305 some bearishness could prevail.

Note that this is just a view and not a trading recommendation
Komentarz:
2310-2315
Komentarz:
SC above 2340 opening 2375
Komentarz:
Unless gold tests 2304 in which case 2330 zone will become value area to sell
Komentarz:
So sell on rise it is till gold is below 2335 2330
Komentarz:
2260
2240 opened up
Komentarz:
Most likely from 2260 some buying is expected
Komentarz:
2255
2230 possible zones that could be tested.
Komentarz:
unless gold trades above 2353

Gold will be under bears control..

Shorts will cover like crazy above 2353
Komentarz:
Below 2285 zone

2250 zone could remain a possibility on day of NFP.
Komentarz:
2285 zone tested
Komentarz:
Head and shoulder formed
Komentarz:
Upon completion, Breakdown possible
Komentarz:
Gold may continue to consolidate before next trending move during NFP..
Komentarz:
Stage looking set for 2250?
Komentarz:
2335 on upside
2290 on downside

Trending move on either side break.

2355 or
2250

Could be tested.
Komentarz:
Correction* 2280 Not 2290
Komentarz:
Data Cold! Wil wait for Bullish Trade above 2355
Komentarz:
Below that I won't mind Shorting Gold Yet again at Decent levels
Komentarz:
As mentioned, didn't break 2280.
Weekly Analysis Coming weekend
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