Gold Standstill in Range as Tug of War Continues, Who’s Going to Win?
Arslan Butt • 1 min read
Fellas, it’s been five days and the yellow metal is still respecting the trading range as we mentioned in our update Gold Stuck in the Same Range for the Fourth Day – Another Cool Setup. Gold’s trading range is $1,294 – $1,287 and its prices are holding right below these levels.
Lately, the precious metal struggled to breach the $1,300 level, even though physical demand for gold coins soared in Britain over Brexit uncertainties.
Lack of fundamentals is keeping it in a narrow range of $1,294 – $1,287. On the upper side, the violation of $1,294 is likely to lead gold prices towards $1,300. Whereas, gold can stay bearish below $1,287.
GOLD – XAU/USD – Trade Plan
The idea is to trade the choppy sessions. Selling below $1,295 and buying at dip around $1,286 seems to be an idea today.