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Gold technical chart of 19/05/2014
The past five weeks has seen gold trade at intervals AN progressively tight vary as consolidation has taken hold. Trend lines have converged and Bollinger Bands became progressively tight (which is usually the precursor to a giant move). but for currently the consolidation continues, with momentum indicators nearly entirely in neutral configuration and moving averages flattening off. there's little to be taken from the intraday hourly moving averages or momentum either with for the most part the same story. during this instance it becomes tough to predict and dear to trade. afterward in times like these it becomes prudent to face aside and sit up for following trend to formulate.
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