GOLD Intra-Day Technical Analysis - Flat with Possibilities For Long

H4 price is on bullish market condition with secondary flat started 5 H4 bars ago.

• Chinkou Span line of Ichimoku indicator is located too far from the price for any possible breakout/breakdown of the price movement in the near future.
• Tenkan-sen is located to be above Kijun-sen for uptrend
• H4 price is moving along Tenkan-send line with flat
• The price is located below triangle pattern which is indicating possible short-term downtrend in the very near future
• Nearest resistance level is 1203.09
• Nearest support level is 1191.55

If H4 price will break triangle pattern from below to above together with 1204.43 resistance level so the primary bullish trend will be continuing.
If not so we may see the ranging market condition or secondary correction within primary bearish.

• Recommendation for long: watch H4 price to break 1204.43 resistance for possible buy trade
• Recommendation to go short: N/A
  
• Trading Summary: flat
  

SUMMARY : bullish