FX.co ★ Gold: upside continuation in play

XAU/USD in Range!

Gold dropped a little in the short term but it could resume its growth as long as it stays above the 1,897 former low and above the uptrend line. These are seen as downside obstacles. Now, it was almost to reach the 1,929 former high which represents an upside obstacle.

In the short term, it's trapped between the 1,897 and 1,929 levels. Still, the sideways movement could represent an upside continuation pattern.

XAU/USD Forecast!

Passing and stabilizing above 1,929 could announce further growth and is seen as a buying opportunity.