Gold consolidates gains as buyers and sellers wait for the next break ...Middle East

Since, then there was a

Correction down to early/mid September lows at $2535 area, A couple of high at $2721.41, and A higher low at $2584.63

Today the price is lower by about -$28 or -1.07% at $2661.

if the price were to continue the move lower started today, a rising trend line near $2584 would be the first target followed by a swing area between $2531 in $2546. That floor area (see red numbered circles on the chart above) will be key in early 2025 trading.

So overall buyers and sellers are battling it out with lower highs and higher lows. Traders will be on alert for breaks with momentum in the direction of the breaks (as outlined).

This article was written by Greg Michalowski at www.forexlive.com.

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