The weekly gold candle shows a restrictive range of just $25 as the precious metal looks for a driver to help break its current lethargy
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall.Silver remains boxed in a multi-month $20.76 to $26.13 range, and using the CCI indicator at the bottom of the chart, is in neutral territory, neither overbought nor oversold. The current spot price is below the 200- and the 50-day simple moving averages and is currently trading on either side of the 20-dsma.
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