24, August 2016

XAU/USD (a 4-hour chart)

General review

In the Asian session gold returned within medium-term range 1336-1358.

Current situation

However, gold remains under pressure-the last pullback might be triggered by closing stops. Returns above 1346 will mark the strengthening of bull positions.

Trading recommendations

We expect the consolidation to continue with returning to balance level of the range 1.1345