Mihai_Iacob

Gold- Tight range's break for direction

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
After Friday's reversal and a high on the Asian session open yesterday, Gold has entered in a tight range of about 100 pips with an upper boundary at 1655 and a floor just above 1640.
A break in one direction or another could clarify things.
In the case of a break above 1655, the 1680-1690 zone is exposed and, on the other hand, a break of support would put the recent low in focus.

Considering the medium-term trend I favor the downside, so, my opinion is that 1645 will fall


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