The market is in the 1730-1738 resistance zone and as of yet has not found the momentum to attempt a break out. However, the price is holding here for now and an attempt at 1738 looks likely at some point today.
As our blog entry yesterday pointed out, if gold cannot break through this resistance area, disappointed longs will throw in the towel and the price will likely fall to the bottom of the trading range at 1700 again.
For our subscribers at www.goldtradingexperts.com, today's video looks at the trading action of the last few days in more detail and our strategy for our open trade.