International Gold is in consolidation mode since 16th of July 2018. Currently trading in a very tight band largely trading within a $10 range over the past week, with the price respecting the $1206 and $1216 levels. Broader range compression ranges from 1205 – 1230 levels in the last one month. The compression in the gold is getting so long on the 4 hourly charts which mostly ends up in a larger price action move.
On the 4 hourly charts, responsive Coppock indicator turned positive indicating a possible short-term uptrend towards 1240 levels. Short term supports coming around the psychological support zone 1200 levels.