View full page at metalsmine.com

 

Analyzing Gold’s Narrow Trading Range: What’s Next for the Precious Metal?

From fxempire.com

{video} Uncertainty reigns as gold again trades within a narrow range. For the past five days it has been in consolidation around the 1,960-peak reached in February. So far, the low of the correction off the recent record high of 2,082 hit three weeks ago, is 1,952. That low completed a 6.2% decline. {chart} Downward pressure remains as gold has been unable to rise above the five-day high of 1,986 as it trades within a relatively narrow range. Resistance during the five days is also marked by the 50-Day EMA line (blue). Once price falls below the 50-Day line for the first time after being above it, the chance for ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis