The price of gold has been trading between $2471 and $2531 since August 16. There have been a number of different times the price low has been tested and a number different times the price high has been tested.
Today, however, the price made a break for it above the topside swing area and we are seeing increased momentum.
When there is a breakout of a consolidation area near all-time high, the decision for traders is simple. Stay above the old ceiling keeps the buyers in control.
This article was written by Greg Michalowski at www.forexlive.com.
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