Gold: Signs of bullish exhaustion ahead of the Fed | Metals Mine

  • Gold: Signs of bullish exhaustion ahead of the Fed

    From fxstreet.com

    Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision. The yellow metal is currently trading at $1,339 per Oz, representing 0.14 percent losses on the day, having hit a high of $1,358 on Friday - a level last seen in April 2018. Notably, the rise to 14-month highs was short-lived with prices closing largely unchanged at $1,341 on Friday. Essentially, the yellow metal created a candle with a long upper shadow on Friday - a sign of buyer exhaustion. A bullish-to-bearish trend change would be ... (full story)

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bigtx
Jun 17, 2019 2:27pm
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Bulls might be tired, but I don't see bears taking over big time. I think we will see some wrestling between the two for a while now without a clear direction. The question then becomes... when it breaks out of this range, who wins??
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