Gold: planning to settle below 1827-23 near term
Gold traded bit freely today but still ranged and getting back to choppy mode before the close. Gold upside is still getting more limited with upside risk looking likely down to 1832. At 1830 I'll be tempted to sell and at 1832 I won't hesitate to sell with my risk management. The new resistance is at 1823, 1827 ahead of 1830 and 1832. If any move up to 1830-32 swing down below 1823-27 I expect it to settle below 1827. A visit to 1800 is needed before considering reasonable high. If the price goes up to 1830-32 and goes down to 1819-14 zone and start heading back near 1832 again I'll stay out of the trade and see what's the plan. Goodluck!
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