FOMC Can't Break Gold Out of Sideways Range
Gold traded up 1.3 points today to close at 1238.2. Even the FOMC minutes weren't enough to break Gold out of it's very tight range, a range that has now lasted for 10 days since the last move up penetrated the upper BollingerBand on February 8. Gold opened and closed the day right in the middle of the 6 and 8 day moving averages.
The sideways movement is very clear on the Heikin-Ashi chart, which clearly shows price hugging the 8 day moving average.
The short term POC on the Volume Profile chart move up today to 1236. This shows how long price has been trading at this level.
Disclaimer: This commentary is for educational purposes only. Please trade at your own risk.
The sideways movement is very clear on the Heikin-Ashi chart, which clearly shows price hugging the 8 day moving average.
The short term POC on the Volume Profile chart move up today to 1236. This shows how long price has been trading at this level.
Disclaimer: This commentary is for educational purposes only. Please trade at your own risk.
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