Well Reiner, we have the lower rising uptrend line from the most recent breakout at around 1780. We also have the 50 day sma at 1710 but moving up fast at about $7 per day. These should offer some support however my ta skills are very amateur. I also think we have a plethora of people happy to step in and buy at lower prices.
I am happy for gold to consolidate here between 1770 and 1910 for a while. Would mildly prefer if it stays above 1800 though.
The thing is that this gold price range is still very lucrative for our miners. I don't think the current price has been priced into the gold miners just yet despite the recent strong action, so the longer we stay at these levels the better the next quarterly reports are going to be looking and the better the outlook for the miners.
In the meantime gold is consolidating for an inevitable (imo) push higher at some later date.
