After the sharp fall in price, gold has been slowly reclaiming some ground in what looks to be potentially only a short term retracement. From here we can expect to either see gold swiftly reclaim 1800 and reclaim higher or what I think is more likely for the short term; a sharp rejection followed by another sweep of the lows.
If we take a look at the volume throughout this run up we can see that the volume has significantly decreased, signalling weakness in the push.
I'll be looking to fill orders from 1799 through to 1803 given a valid form of confirmation. Should we happen to grind straight through 1800 I will not be shorting but rather looking for long entries on the eventual road to reach 2000
If we take a look at the volume throughout this run up we can see that the volume has significantly decreased, signalling weakness in the push.
I'll be looking to fill orders from 1799 through to 1803 given a valid form of confirmation. Should we happen to grind straight through 1800 I will not be shorting but rather looking for long entries on the eventual road to reach 2000