DrAnandM的FX:XAUUSD的Consolidation to continue?

Consolidation to continue?

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

註釋

Level correction
2385 zone +-5 And not 2390

註釋

Some Bearish Price action Upfront..

2275 looks likely below 2320

If 2275 not Respected, then 2245 could be tested..

註釋

Below 2320

2300
2275
2245

Possible Targets

註釋

SC only above 2345

註釋

Gold has taken support around 2320.

Above 2345 zone,
2365
2385 could be tested

註釋

As mentioned gold couldn't break 2345.

So Most likely downside break possible

註釋

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

註釋

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

註釋

2310-2315

註釋

SC above 2340 opening 2375

註釋

Unless gold tests 2304 in which case 2330 zone will become value area to sell

註釋

So sell on rise it is till gold is below 2335 2330

註釋

2260
2240 opened up

註釋

Most likely from 2260 some buying is expected