Gold undergoes the stage of corrective upswing forming. But given that any direct signal for growth is absent, a probable scenario will be flat in the 1493.35-1516.35 range.
Local structure doesn’t have steady trend, but it has formed upswing. Thus further growth without full-scale corrective swing is unlikely. Traders can again buy out gold at the strong support zone 1498.14-1500.64 in direction 1511.70.
Decline towards 1498.14-1500.64 and then bounce towards 1511.70.
Longs from 1498.14-1500.64 to 1511.70.
Shorts from 1511.70 to 1498.14-1500.64.