Gold is moving in a medium-term trading range approaching the intermediate resistance level 1.748. This fact points at possible decline. However, a breakdown of these levels will open the way to the upper limit of the trading range.
Technical indicators do not provide signals for SELL-deals but the evolvement in overbuy zone reveals the opportunity of possible decline.
Analyzing the previous events, the market indicates a bullish opportunity as the gold has passed through the resistance level 1.748 with its 1st objective at level 1.760 and then the level 1.765. If the level 1.746 is broken down the supposed scenario will be reversed.
