Daily Momentum Readings for the Gold Market is Flashing Trading Range Signals
The gold market has formed a resistance zone and a support zone, but the price is right in the middle. The RSI readings, which I use to indicate the trend, are turning down from below 62 and up from above 38, which indicate a trading range.
The morning-look at the TradeFlow chart shows that buyers are dominating based on the buy volume line (green) of the TradeFlow Volume Cross Study are peaking above the sell volume line (red). That is an initial positive sign. However, if the market starts to roll over, then all of those buyers will become sellers.