Price action in gold remains stuck within a sideways range with the 1818 level of support holding up for the moment. The overall trend remains flat after gold price touched a new all-time high on 7th August 2020.
This sideways shift could either see the trend beginning to change or a possible pause before the bullish run picking up pace.
The overall bias remains mixed within this sideways range of the 1950 and 1818 levels.
For the moment, price action has formed a lower high and is currently pushing lower. Therefore, a retest of the 1818 level is quite likely.
A break down below this support area could see a possible shift in the trend.
To the upside, unless the 1950 level gives way, prices might remain stuck in the range.
