Hey traders,
I was asked many times to give a detailed update on gold.
From an intraday perspective, the market is currently consolidating.
The price is stuck within a narrow horizontal trading range.
1795 - 1800 is its resistance
1755 - 1765 is its support.
It looks like the market participants are waiting for some fundamental trigger.
If you are a scalper/intraday trader,
consider the boundaries of the range for range trading.
If you want to catch the next wave, I would suggest waiting for a range breakout trade.
I remain bullish biased and expect a bullish continuation after a consolidation.
However, for now, we wait.
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