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Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Gold Continues to Drift
April 29,2020 - (Gold Market Wire) - Gold continues to drift sideways, while searching for direction in the European a.m. Technically the market is still caught in the $1680-$1740 Box formation we identified on Monday, and so, the hesitant nature of the market is revealed in the chart.
A sideways drifting market that doesn't inspire scalping. Momentum is flagging. There is a slight downward tendancy and we get the impression that this is a market that would like to search for a bottom and make another attack higher. The question is whether that bottom will be "inside the box", or at a lower point. We remain patient for a clearer set-up.