- Gold has both broken out to the upside as well as retested its bull flag continuation pattern - Price would now need to break the important 1225 resistance region to confirm further upwards momentum to come
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
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- Up-move stalling around the 1225 region - This is the mentioned resistance that would need to be broken to continue higher
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- Price has now tested the 1225 region twice without a strong follow through to the upside - We could see a slight retracement back down today as we are in fairly oversold territory on the 1h + below timeframes - Expecting price to drop back into the 1217 support region if so - Could equally see a break of the 1225 level so keep an eye on this level