Two Breakout Scenarios in the GOLD Price
Since mid-April, the gold price has been hovering around the $3315 mark without establishing a sustainable trend from there. How could one proceed now?
Fundamentally, actions near the middle of a range tend to be counterproductive, and there are often only limited reasons to favor activity there. More interesting are the scenarios of a breakout or a test of the upper or lower boundary.
For the respective breakout scenarios, the area around $3380 should be the focus for long positions, and $3255 for short positions, with the corresponding retests being checked as entry setups.
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