Gold still in consolidation

Multi-month agonizing sideways consolidation in XAUUSD continues.

Main scenario: Gold can hold above $1,300 and will soon start the next leg up towards $1,415 - $1,430.

Worst case scenario: Gold is breaking the trend-line and corrects towards $1,262 - $1,295. That would be a great buying opportunity.

Only below $1,255 new bull market gets into serious trouble.

İşlem aktif:

Worst case scenario active! Finally gold is presenting us a wonderful opportunity to buy. Yesterday´s crash certainly killed all the weak hands in the market.. we´re close to the 200MA. 1255-1262 should hold.. expect 2-4 days bottom building before gold is moving up again