Despite the bullish price RSI divergence on Tuesday the subsequent failure to take out the 5-DMA suggests the sideways action is likely to continue for some time before buyers make their presence felt.
Fresh selling is likely to see only if prices see a daily close below Monday’s low of $1211.41.
Overall, the sideways action is likely to continue ahead of tomorrow’s US CPI release.
Fresh selling is likely to see only if prices see a daily close below Monday’s low of $1211.41.
Overall, the sideways action is likely to continue ahead of tomorrow’s US CPI release.
