Ransquawk

Although recently GOLD prices are moving in consolidation, the chart shows some chances to end this malaise. At high time intervals, it can be seen that the rate is right next to the 1.5 year old trend line, the fragment of which we can see on the daily chart. The pair currently has a period of 2 months of decline. In this context, consolidation may mean a kind of accumulation phase, i.e. preparation for the next move. According to the trend, one would expect upward movement. It seems that the signal for this would be breaking above the resistance in the area of 1307.00. For now, we are watching an attempt to attack this level.

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Ransquawk