Gold is Congested Within the Triangle

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

Gold is trapped inside a triangle range and at this point we can see the price struggling to go anywhere. 

If the price breaks 1730 with a momentum candle we should see the move to upper levels 1741 and 1748. However a move down below 1711 should make a drop towards 1692. The price is very rangy and the market is waiting for a breakout. On 4h time frame it’s very visible as the price is close to the pinnacle of the consolidation triangle.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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