Gold price analysis
Expected scenario
Gold price has been trading sideways in recent sessions, moving near the 50 moving average now, waiting for a positive catalyst to push the price to resume the main bullish wave, waiting to test the recently recorded peak at $2431.45 initially.
Consolidation above $2365.10 represents the first condition for the continuation of the expected rise, as breaking it will pressure the price to incur immediate losses and test the pivotal support $2325.90 before any new attempt to rise.
Expected trading range
Between support $2360.00 and resistance $2400.00.
