Gold consolidates for new orders

XAU/USD price is currently above a long term down-trend high trend line and has reached a new high on its current shorter up-trend.

If we see the H4 candle close bearish at 05:00pm GMT, we could possibly see a re-entry into the downtrend and get a bearish movement.

A break and retest below 1916.92 will confirm the bearish trend.

In the case of a continuation of the bullish trend, a break and retest above 1936.96 would confirm a bullish trend.

 

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