GOLD - The Box
Updated
We were consolidating in a box during the last few days.
The key level is : 1241.26$.
A significant move below this level will trigger a big breakdown as the range traders will realize that the party is over.
This is still not the panic selling but we are getting close.
We might break down 1241 today at the GDP data or early next week when USA is closed for the national holiday.
We tested back the 100 and 200 SMA in the night and it seems the 50 EMA is starting to play the main role again.
The key level is : 1241.26$.
A significant move below this level will trigger a big breakdown as the range traders will realize that the party is over.
This is still not the panic selling but we are getting close.
We might break down 1241 today at the GDP data or early next week when USA is closed for the national holiday.
We tested back the 100 and 200 SMA in the night and it seems the 50 EMA is starting to play the main role again.
Note
No significant breakdown yet...Note
We are closed in the cube.youtu.be/YAWSkYqqkMA
Note
We have the significant breakdown:Note
Empty space down to 1214$...
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