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puakeng

VSA to Spot Gold Market.

By puakeng, in Volume Spread Analysis

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puakeng    10

puakeng
Posted

There is a low volume test on 8 oct. The volume is clearly low. It means there is no supply to the down side. However, we need the next bar to confirm it. This is the EOD chart, maybe intra-day chart kud get you a clearer picture. If the test is confirmed, the market has to follow the path of least resistance, which is up.

 

With strength in the background, I personally expect higher prices for gold. This test seems that professional money wanna prices to break 1800.

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puakeng    10

puakeng
Posted

The test is not confirmed. But it probably needs a second test. The volume is low on 9 Oct. From the chart, I conclude that Smart Money intentionally tests the market to wash out potential weak holders.

 

They are healthy signals for an uptrend. :missy:

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