News & Analysis
Gold, seller exhaustion? Signs starting to build.
What’s drawn our attention to Gold has been the double bottom that’s setup from 1266.08. Sellers have been in charge since the 16th to the 26th. Buyers set the double bottom on the 27th. Till today we’re seeing a battle of balance as both sides have tried to force an imbalance to their side. Currently, buyers are showing a slight advantage. While 1266.08 continues to hold we’re looking for further buyer support that may set up a more defined leg higher.
Gold daily chart shown below