XAUUSD 1H - Levels

Tight and choppy range today on Gold which leaves us a sticking to our original view from yesterday. Tomorrow we will look again for the price to test the highs of 1800 and above the 1804-8. Here we will look for resistance and as long as it holds we want to test the short trade for the lower levels. As long as the price stays below the 1806-8 level we are bias short. Breaking the level will lead the price to target the higher levels of 1820 and above the test the triple top at 1835. We feel there is a big bearish move on the way, however, the market will want to get as many buy orders in above as possible before making the move. Its possible that we see a bullish day on Friday and then the retracement next week.

We'll keep an eye on this and update traders through the day tomorrow.

As always, trade safe.

KOG