In another choppy day of trading, gold sold off from the start yesterday, falling along with other risk assets and finding support at 1563, before recovering impressively to end the day around 1575 where it remains now.
The 10 DMA proved to be resistance today, as the other MAs have over the last couple of weeks and we remain within a narrow trading range which is getting narrower all the time, coiling for a breakout one way or another.
This action could continue for many weeks, though a breakout could occur at any time now. We await the next move.
The 10 DMA proved to be resistance today, as the other MAs have over the last couple of weeks and we remain within a narrow trading range which is getting narrower all the time, coiling for a breakout one way or another.
This action could continue for many weeks, though a breakout could occur at any time now. We await the next move.