Gold is moving in a medium-term trading range and approaching the intermediate resistance of this one at 1,748 suggesting a decline. However, a break of these levels will allow it to reach the upper limit of its trading range at 1,888.
RSI doesn't give clear signals but is approaching the overbuy zone suggesting a decline.
Bollinger bands have greatly tightened during recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market indicates a bullish opportunity as soon as the gold will have broken its resistance at 1,748 with the 1st objective of 1,760, then 1,765. A break through 1,746 will change this scenario.
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