It’s surprising, but upswing was fully completed by yesterday’s local high. Given that after this peak market got bearish close, we can say that the gold market is highly consolidated. Consolidation range is 1910.00-1961.70. Thus we can expect a break of this range and active impulse distribution in direction of the break.
In case of upward ejection gold might attack resistance 2015.31 again (scenario 1). In case of downward break we would expect a drop to 1863.00 (scenario 2).
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