DAILY - Gold moved in very narrow range yesterday. It changed nothing at all in term of analysis. Gold is still trying to breach the trend line as the neck line of the Bullish Gartley harmonic pattern. If it breaches, then gold might continue its up movement testing last week High 1682. Other wise gold will flip back to the downside with target around 1652 - 1649 - 1646.
More consolidation would be seen today before it breaks either 1661 or 1652 considering that MACD on time frame 4H (weekly range) is about to cross down, while it is still above the zero line on time frame 1H (daily range). Gold needs to be stable below 1656 (50% Fibonacci - daily range) and MACD below the zero line to go further down.
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