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20.08.201915:08 Forex Analysis & Reviews: Gold price inside trading range

Long-term review

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Gold price continues to trade around the critical $1,500 price level with no clear direction or trend. Price is trapped inside a trading range.

Green rectangles - trading range boundaries

Gold price is trading around the $1,500 level. Price is mostly moving sideways the last few days and inside the trading range of $1,533 and $1,480. Breaking either of the two boundaries will produce a new multi week trend in our opinion. Respecting $1,500 would be a bullish sign, if however price remains below it for too long, the chances of breaking $1,480 and moving at least towards $1,450 will be increased.

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