As we broke through the decending channel that started back in May of 2018, I expected to see some FUD this weekend to drive price down, that didn't come true but we did just an hour ago see a strong rejection at the support/resistance line around 6744, which is exactly at the 50% fib line on retracement so if we breakdown, again we look at 6533 and 6459, which I doubt we will break below that. Instead what I see is we are running laterally in this channel for next few days until something shakes up the price action so I assume scalpers are already seeing this and working this channel. That gap is about 4.6% so you could play that for profits if you're bored and desperate to trade with fair confidence, me personally am waiting.
GOLD and SILVER are pretty boring and sleepy, nothing new to report.
Full breakdown video:
