Gold- Long term view& trading plan

2022년 6월 20일

Since the mid of May low, Gold was trading in a range with no clear direction.
The boundaries of this range are pretty clear at this moment and traders can look for a break on either side.
The long-term trend is still bullish and only a break under the 1820 zone would put this trend in danger.
However, for confirmation and continuation to the upside bulls need a daily close above 1870. On the other hand, a drop and daily close near 1800 could lead to a change of trend and Gold can drop to 1680 support in the medium term.
At this moment, in my opinion, sitting and waiting is the best thing to do.