GOLD in a range

CHART-II

• Gold has given a breakout from the range it was trading in. Now price may retest the all time high it made last month.

CHART-I

• GOLD Four hour is showing a range from 1811 - 1840 area.
• 50 Period moving average for this time frame is also moving flat.
• But the four hour candles are not closing below 50 Period moving average which is showing some strength for bulls. If price sustains above 50 period moving average we may see a breakout on the upside.
• On the contrary a four hour candle closing below 50 Period moving average may give good correction for gold.