Trend Still Appears to be Negative for the Gold Market

Gold Still Negative

The RSI readings are still indicating a down trend based on the daily bars. I would watch for a test of the support zone unless the RSI forms a pivot low above 38.

TradeFlow and Gold

The morning-look at the TradeFlow chart shows that the market has hit a resistance zone, and the sell volume line (red) is peaking above the buy volume line (green) of the TFVCrss study, which indicates sellers are dominating.

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Thom Hartle’s View of Trading and the Financial Markets