Tuesday will be day 7 of the current consolidation pri9ce action following a huge sell-off. Very often day 7 and day 8 is when the market resumes its main trend, which is down at the current time.
Because the sell-ff was so severe we could see Tuesday as day 7 to continue to rally.
Key price level to watch for a breakout is at 18,565 as key support and 18,890 as key resistance. A breakout of support-resistance zone is going to trigger a strong trending move out of the range.
Staying inside the range implies more sideways choppy price action.
On the 5-minute intraday chart, key inflection price level is at 18,612, bullish above, bearish below
Gold is still in breakout mode
