Gold buyers loosing ground - are they going to loose direction?

in gold •  8 years ago 

Gold is loosing ground as buyers commitment to take this up is slow and somewhat grinding. If they are going to break through to the next area of resistance more buying volume has to enter the market.

I have noted two areas of oncoming resistance. If we don't see buyers step in we could get a Head and shoulders pattern coming in which would have gold fall further.

Gold-futures-trading-5-16-17.png

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My 1st blog on Steemit was about Gold... dont be a victim... consolidation is normal..

Check this post..

https://steemit.com/gold/@hellogelt83/gold-chart-xau-usd