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 Strategies & Market Trends : Technical analysis for shorts & longs

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To: The Jack of Hearts who wrote (47564)3/1/2012 3:28:40 PM
From: Johnny CanuckRead Replies (1) of 49818
 
We will see how the trading goes over the next few days for gold, but the fact that it did not at least re-bound to test the gap from yesterday indicates traders are very cautious right now. If the trading stays in the down trending channel the psychology of traders will have gone bearish and that will take time to repair.



Even the depth of the selloff yesterday indicates a lot of gold traders are running with tight stop loss, that is not an indication of a bullish mentaility.
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