Gold is currently edging sideways after its recent bounce off the critical support base of 1,660-1,682, where it produced a nine-month low of 1,676. The falling 50- and 100-day simple moving averages (SMAs) are safeguarding the short-term bearish picture and weighing on the commodities price. The flattening Ichimoku lines are suggesting positive momentum has dwindled and are promoting a minor directionless price phase. The short-term oscillators are slightly favouring the downside, as they are indicating that positive sentiment has become subdued with the latest drifting in price action. The MACD, although above its ... (full story)