Mihai_Iacob

Gold still stuck in range

OANDA:XAUUSD   Or / Dollar Américain
If you are a swing directional trader, for sure you are already bored of Gold's price action in the past 3 weeks and with the price trading between 1940 and 1980, nothing is clear now for the price evolution in the medium term.
However, if we are to see something good in this kind of price evolution is the fact that we have 2 clear levels to refer to.
In conclusion, a genuine break above 1980 would mean the resumption of the up trend and we can expect new ATH after this, on the other hand, a break under 1940 would terminate the up trend started at 1620 and could lead to losses under 1900.

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