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The range is formed by 50 percent and the 38.2 projection levels of a wave C from $2,059. A break above $1,950.50 could open the way towards $2,000.
The metal has been consolidating around $1,934 for more than a week, reluctant to fall through this level. This behaviour makes a further bounce likely.
However, wave pattern sends a conflicting signal. The wave C looks incomplete. It may eventually travel into a zone of $1,809.50-$1,868. Signals will become clearer when the metal leaves the range.
The analysis is based on delayed data, prediction may be affected.