Session Volume says that the point of control (where volume is traded the most) is around 1837. Gold went up 1846 last Friday but ended the day at 1839. Today, it moved below the point of control signaling that the bears are in control. We can expect gold to fall to the first minor support line which is 1812 and then 1800. We anticipated this move last week with our short positions in 1845, 1839, and 1837, with SL at 1852 and TP at 1812, 1800.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
