Weekend Analysis - Daily - Gold
Following last week Price Action, price has rejected the Institutional Level 1670 and close back inside the Range formation and continue to push upwards towards the Resistance/range top. On Thursday and Friday, it has retested and rejected the Range Top at Institutional level 1745 which where it has failed to form a new HH formation.
As of now, the price action is neutral as it consolidates right above the EMA 14. Price could go either way as it broke above the Range to form a new HH & HL or it could form a new Bearish Leg to the downside indicating a potential Bearish Breakout.
Bias = Neutral
Structure = Ranging
Setup = No
As of now, the price action is neutral as it consolidates right above the EMA 14. Price could go either way as it broke above the Range to form a new HH & HL or it could form a new Bearish Leg to the downside indicating a potential Bearish Breakout.
Bias = Neutral
Structure = Ranging
Setup = No
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