Following a large down-move on Thursday and into Friday last week, the market paused and consolidated on Monday, stayed inside a trading range.
It is likely to make a large move on Tuesday but the direction is not clear, as it will depend on where it trades in the morning.
-- Trading above Monday;'s high implies a bullish day, likely to trigger short-covering rally up to resistance, 3065 and 3072.50.
-- Trading below Monday's low should trigger selling algorithm with the potential to take price down to 3000.
Gold continued to rally
Gold continued to rally
