Possible Long Setup targeting 1945-50

Gold has been range bound for a while now and to me it looks like its gravitating towards the grey box to rebalance price. I am expecting this area to be strong resistance and if you're interested in shorting Gold 1045-50 area is a good area to keep in mind. Be aware that we have CPI coming up tomorrow and that price could do the complete opposite.

Happy to hear your opinions!

Kommentar:

I don't like how Asia created a new high and didn't stay in a tight range how it usually does. In my opinion, we will go lower until NY session and I am expecting a dumb when CPI data comes out before we make new highs.