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Gold Contract Pushing into Volume Resistance 1236-41

Tuesdays Forecast

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#1 SemiBizz

SemiBizz

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Posted 16 May 2017 - 10:05 AM

Today's High So far 1238.90

 

Today's Gold Forecast:

 

GOLD PUSHES TO 1237 ON THE STRONGEST HOURLY VOLUME OF THE DAY - pulls back on lighter volume to close at 1230 or up just a few points on the day, nevertheless it was a positive day overall and fits the pattern we've been seeing of these strong hourly spikes that are followed up with light volume pullbacks over the last few days, so probably good to continue here.  No we did say we expected gold to test into 1236-41 here and that looks good for another run there tomorrow... until the pattern changes.  Gold trading at 1230 here in afterhours

 

 


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#2 fib_1618

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Posted 16 May 2017 - 10:12 AM

goldbpi.png


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#3 SemiBizz

SemiBizz

    Volume Dynamics Specialist

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Posted 16 May 2017 - 10:13 AM

Yep, we're looking to get short...

 

Volume was light these last two bounces in the gold contract...

 

Still can test 2141 here...

 

2151 is our anticipated best odds entry.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics