15 Jun 2015
Gold faces further consolidation – TDS
FXStreet (Edinburgh) - Strategists at TD Securities, expect the precious metal to extend the recent consolidative pattern in the near term.
Key Quotes
“Technically, gold looks dead in the water; the extended sideways range trade over the past few months has robbed the market of any real directional intent”.
“Trend momentum has flattened out across a range of timeframes and that implies the likelihood of more range trading for now and will require a strong and sustained directional move—probably either below 1100 or above 1300—to get the market moving again”.
“For now, it is a jobbers market between short-term support in the high 1100s and resistance in the low 1200s”.
Key Quotes
“Technically, gold looks dead in the water; the extended sideways range trade over the past few months has robbed the market of any real directional intent”.
“Trend momentum has flattened out across a range of timeframes and that implies the likelihood of more range trading for now and will require a strong and sustained directional move—probably either below 1100 or above 1300—to get the market moving again”.
“For now, it is a jobbers market between short-term support in the high 1100s and resistance in the low 1200s”.