Gold is Trapped in a Range but Bears are Still in Control

Dear traders,

Gold is trapped in a range and bears are controlling it. However bulls might still get their chance.

The 1818-30 zone is good for buyers. We can see the lack of sellers there and at this point this is the only zone where buyers might expect the price to go up. Everything else is bearish. 1860-1880 is where sellers are and there is possibility of new selling towards lower levels. Below 1818, breakout towards 1808 should happen and above 1860, 1880 is the resistance. Watch for rejections in those zones.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez