Gold lacks direction for Thursday, looking both ways near $1,350
- Gold bulls just can't seem to break past the top of 2018's range, setting up for another rejection.
- Indecision candles are marking the Dailies, reversal play setting up once again.
Gold is hesitating near the 1,350.00 level as markets try to make up their mind about which direction to go.
Gold has been making some headway up the charts, managing to close small portions in the green amidst a series of indecisive candles, and the same pattern looks set to continue today.
Gold reached a weekly high of 1,355.65 yesterday but is retreating back into yesterday's midrange near 1,348.50 as the US Dollar firmed on higher Treasury yields, and equities traded moderately higher on hopes of a continued US economic bull run.
Gold Levels to watch
Main resistance is still coming from the top of the range at 1,356.50, and a move lower is being blocked in by support from the week's low at 1,337.00, and a further bearish rejection could see further support from last week's low at 1,326.80.