Gold: Reversal & Test

Sitting On A Wall

All that volume and every bullish attempt, couldn’t put the gold market back together again.

In what looks like short-covering, the gold market (GLD), spent most of the day attempting to recover from its fall over the past two sessions.

It didn’t make it.

The close was lower and volume increased by 29%, from the prior session.

Gold (GLD) Daily

Volume increases as price is rising for the day and yet the close is lower.

Typically, a bearish configuration.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279

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