Gold Halt Gains; Trade Sideways
After a 65 dollars surged, the price now found itself trapped in a range while finding support at the 1908 region.
We are most likely to see a retest of the same support where a rebound will most likely happens again and this can be a short-term trading plan for the time being.
If the rebound gains momentum, the price could potentially reach 1958, a scenario that's more likely to happen before any meaningful downward pressure can be seen.
Otherwise, a break below of the current support at 1908 will bring the price down to 1880, and potentially all the way back to the equilibrium level at 1813
We are most likely to see a retest of the same support where a rebound will most likely happens again and this can be a short-term trading plan for the time being.
If the rebound gains momentum, the price could potentially reach 1958, a scenario that's more likely to happen before any meaningful downward pressure can be seen.
Otherwise, a break below of the current support at 1908 will bring the price down to 1880, and potentially all the way back to the equilibrium level at 1813
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