© Dukascopy Bank SA
– based on investing.com
Pair's Outlook
The yellow metal was trading flat at the start of this week, as it slightly fluctuated around the 1,330 level on Monday and Tuesday. However, the metal fell on Wednesday to around the level of 1,312, which seemed to indicate at the bullions new direction. Although, on Thursday gold surged back to 1,330 level, and it continues to be close by it, as the metal was trading at exactly 1,327.40 by 5:15 GMT. It seems that the commodity is most likely to continue to trade flat, as daily aggregate technical indicators forecast no change for it today.
Traders' Sentiment
Traders remain neutral on the yellow metal, as 50% of open SWFX positions are long on Friday. In the meantime, pending orders in the 100-pip range are 67% long.
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