Technical Analysis: Gold prices are storing volatility which is getting pent up as prices trade sideways in a tight range.
Resistance near the 50-Day MA at 1,477.
Short term support is seen near the 10-Day MA at 1,470.
Additional support on the precious Yellow metal is seen near an upward sloping trend line that comes in near 1,462.
Momentum is decelerating.
Short term momentum recently turned positive as the fast stochastic generated a crossover buy signal. The trajectory of the fast stochastic is turning, and should not be considered Neutral.
Medium-term momentum is positive to neutral as the MACD histogram prints in the black with a declining trajectory which points to consolidation.
Gold prices are poised to break 1 way or another, as volatility has hit the lowest marks of the year.