Gold Daily Chart Resistance

Posted by Bruce Levy on

In this chart we take a look at Micro Gold Futures Daily Chart.

Price has retraced near the midpoint of the downtrend based on the linear regression channel. 

One thing that stands out here is the bear bar near prior resistance which is accompanied by low volume. 

This is in an indicator of lack of buying for the current session. 

In addition the Kaufman Adaptive Moving Average is flatting which indicates an increased likelihood of price pullback to the mean.

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