Gold has been falling consistently for 3 days now, I have seen rumblings of traders flipping from short at channel resistance to buying at what should soon be channel support. I think we can all agree that Gold has been stubbornly rangebound for a few weeks now.
What has surprised me is the lack of buying thus far, I can see this falling a few dollars more before retracing some of this drop at a minimum or testing the highs once more.
I included the Daily, 4 Hour and 1 Hour to show how strong this bearish momentum is for the moment.
If someone is interested in stepping in the way of this movement I would expect some pain before a reward.
What has surprised me is the lack of buying thus far, I can see this falling a few dollars more before retracing some of this drop at a minimum or testing the highs once more.
I included the Daily, 4 Hour and 1 Hour to show how strong this bearish momentum is for the moment.
If someone is interested in stepping in the way of this movement I would expect some pain before a reward.