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TFC Commodity Trading Forum

April Gold/ Spinning its Wheels...Still *PIC*

April Gold continues to consolidate and spin its wheels in this $1630 to $1700 seventy dollar price range for six weeks now. Price has to breakout over $1700 price resistance and the downtrendline "OR" breakdown below $1630 to determine direction. Various length oscillators are all below their center lines as well. Also notice today with Gold up sharply with DX falling sharply the high profile Gold stocks closed near their lows of the day. Bottom line : Watch for a breakout or breakdown and stop holding your breath as it's not peanut butter jelly time yet...........................Seasonal trends show a top early Feb with a wide sideways choppy trend into a summer low.