Mihai_Iacob

Gold remains in tight range for now

OANDA:XAUUSD   Gold Spot / U.S. Dollar
As I said yesterday, Gold is trading in a tight range between 1920 and 1950. Also, looking at the H4 posted chart we can see that this range is congesting forming a triangle with the falling trend resistance at around 1940.
Although I don't have an open trade at this moment my bias has become slightly bullish with confirmation in case of a daily close above 1940.
On the other hand, a break under support can lead to further losses and continuation of correction and Gold could fall to 1880 and even 1860

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