Gold has not been nearly as affected by the risk-on frenzy as bonds were. In fact, it has been maintaining a range from 1924 to 1964. These are both technical levels. There are some Fibonacci levels in between so watch for support or resistance at these.
The fact that gold is maintaining a $40 range which is quite narrow for this product, suggests a breakout may follow soon. This narrow range is not likely to last, so keep your eye on the upper and lower bounds of the channel for a possible breakout either way. The Kovach OBV is solidly bearish, but this could just be because we are testing the lower bound of the range right now. The level 1925 may provide some support here very soon
The fact that gold is maintaining a $40 range which is quite narrow for this product, suggests a breakout may follow soon. This narrow range is not likely to last, so keep your eye on the upper and lower bounds of the channel for a possible breakout either way. The Kovach OBV is solidly bearish, but this could just be because we are testing the lower bound of the range right now. The level 1925 may provide some support here very soon
Join my discord at discord.io/quantguy
