Thursday, September 8, 2016

Market Psychology Of The Gold Futures Bear Range;

Coming in today to find the Gold Futures with a very nice gap higher of which was met with snap selling right from the start of the day. The first candle showed us that buyers may have tried but bears ultimately owned it and with the second candle proved their dominance.

This gives us a heavy bear bias overall until proven wrong and when the buyers attempted to shift the market into a full range with a bull move up to the highs, they failed immediately. This led us to believe that we may be in a range, but selling will have a huge bias on the movement overall.

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