The market has been rangebound for over a week between 1440 and 1485, a break out of this range should produce a strong tradeable move. The market is clinging to the 20 DMA and needs to move higher and clear of this to give the bulls renewed momentum.
Oil has potentially formed a top at $97.14 and we are watching for confirmation of this which would be bearish for gold. Equities are breaking out above major resistance and could see a big rally here, again this would be bearish for gold.
Today's video for subscribers looks at the recent action in more detail and our strategy for our next trade.