Market is moving upward without confirmed uptrend, therefore a halt may take place at any moment. Right now gold is getting ready to test resistance 1720.35. If it proves broken, we might get a recovery to the next strong level 1738.00 (black arrow).
If bulls fail to pass the 1720.35 barrier, a start of new downswing in direction 1700.00 and 1690.71 would be a reasonable option.
Main scenario: Growth to 1720.35 and further recovery of the quotes in direction 1738.00.
Alternative scenario: Touch of 1720.35 and following downward reversal in direction 1700.00.
Above 1720.35 - longs to 1738.00.
Below 1720.35 - shorts to 1700.00.
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