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Gold Tries To Move Higher, But Movements Are Weak

Published 05/06/2016, 05:23 AM
Updated 07/09/2023, 06:31 AM

Gold tries to move higher, but the movements are very weak. The metal consolidates around 1280.00 ahead of NFP and ADX shows decrease in bullishness and that contradicts with moving above moving averages.

Gold Daily Chart

The contrarian between technical signs argues us to be neutral.

Support: 1277.00 – 1272.00 – 1259.00

Resistance: 1290.00 – 1300.00 – 1318.00

Direction: Neutral

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