Wednesday, August 10, 2016

Market Psychology Of A Breakout Morning On Gold Futures; SchoolOfTrade.com



We opened up with a HUGE gap higher on Gold showing that buyers were very likely going to slam the market up for a bit more movement higher just given the overall strength. With this move up you would expect them to continue... they didn't.

This failure of the buyers led into a massive sell off right back down to the prior high of day test before really finding any buy support and with the massive control now on the bear side, bulls will have a TON of work cut out for them to be able to get price back up.

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