Gold was under pressure for much of the day yesterday, finding support at 1567, though a pattern of lower lows and lower highs is forming on the short term charts.
On an intermeidate time frame, gold remains in a clearly defined downtrend channel and is approaching the apex of a large flat bottomed triangle pattern.
Gold is looking for clues of further economic stimulus and, so far, isn't getting any which explains the lack of momentum in any attempted rallies.
On an intermeidate time frame, gold remains in a clearly defined downtrend channel and is approaching the apex of a large flat bottomed triangle pattern.
Gold is looking for clues of further economic stimulus and, so far, isn't getting any which explains the lack of momentum in any attempted rallies.