Gold powered higher last night and hit a high around 1680, above the upper channel boundary we have been watching for the last couple of weeks.
However, the market has stalled and looks to be running out of steam here, until we see a break of the previous swing highs at 1683 and 1698 we won't be turning bullish.
The trading has been whippy and without any clear heading, with a downward bias, for a few weeks now and we don't yet see anything to change our minds.
However, the market has stalled and looks to be running out of steam here, until we see a break of the previous swing highs at 1683 and 1698 we won't be turning bullish.
The trading has been whippy and without any clear heading, with a downward bias, for a few weeks now and we don't yet see anything to change our minds.