GOLD: Corridor is in the fuzzy boundaries
Frequent intersection of STD1 with STH4 signals the flat which is bounded by 5/8 (1265.63) and 2/8 (1218.75) levels. It should be noted that the price has been fixed above the level 3/8 again, whereas STD1 has changed its color. Therefore, the growth scenario to the area of level 5/8 is possible. However, the breakdown STH4 (1241.00) will lead to testing of 2/8 level which defines lower bound of the flat. At the moment, the key marks are 1241.00 (STH4) and 1250.00 (level 4/8), therefore the trade should be conducted in both directions upon the breakdown of the corresponding mark.
1. Buy – 1252.00; sl – 1240.00; tp – 1265.00.
2. Sell – 1238.50; sl – 1245.00; tp – 1222.00.