There is no clear direction in the metals. Unfortunately, but that’s the way it is. Neither a clear breakout nor a break-in can be seen. The metals remain in a narrow range. Gold remains in its narrow range and has already returned. It should be clear to everyone; that the current situation is everything, just no sustainable and no impulsive movement.
No outperforming thus far
Gold has not managed to outperform since the last high. In view of the gag in recent weeks, however, there is reason to fear that another high will somehow be expanded here, even though the market is now facing massive headwinds. The daily chart has already given a sell signal, we are close to it on two- and four-day levels. In addition, momentum is declining everywhere. The main difference at the moment is that we were able to expand a new high, but no new highs in the indicators. This is known as negative divergence. So, we stick with it, which smells like bearish territory soon.
The market can soon break out in one direction and does not want to have to look behind. This means that further positions can be deposited very quickly.