Forecast /Gold/ Our expectations:
Middle-term consolidation, the price is moving in the diapason of 1300 and 1360. Formed figure Flag pointing for price decrease of the pair. Break trough 1304 means activation of the figure.
Aggressive move from the current levels gives a good opportunity to place a close stop lost and a good risk/reward ratio. However, such a move is a bit risky.
The price is below 200 SMA and is currently stuck at the 50-day moving average. Demarker on neutral territory
SL: 1324
Alternative scenario: If the price breaks above the resistance zone around 1320, the activation of the figure will fail and we can see new upward impulse testing the upper part of the consolidation.
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