A trend is currently due for the gold.
Gold has been consolidating for more than 3 months now and it's clearly coming to an end.
The price did attempt to break out of the consolidation into a trend last week but got rejected again at 1483.
However, the lows are going higher and shall remain bullish as long as the price doesn't break below the 4-month demand zone from 1447 onward.
This could be the exact week that gold embarks onto a trending period.
We will wait to buy the gold at a lower price from 1465 to 1453.
Gold has been consolidating for more than 3 months now and it's clearly coming to an end.
The price did attempt to break out of the consolidation into a trend last week but got rejected again at 1483.
However, the lows are going higher and shall remain bullish as long as the price doesn't break below the 4-month demand zone from 1447 onward.
This could be the exact week that gold embarks onto a trending period.
We will wait to buy the gold at a lower price from 1465 to 1453.
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