Today's Gold analysis

As stated in my trades review, I saw a buying climax into a supply zone, so was expecting a down day. And this came to be.

My prediction of price breaking above the supply zone is looking less likely to happen any time soon.  Price has been stuck in a $25 range for 5 days, and we should expect a break out, but I am re-thinking my opinion that it will be to the upside.

The reason, is that over the 5 days of basing, the volume has been low, and this could indicate that we have distribution rather than absorption.  Unfortunately, we won't know until after the event. 

Maybe today was another shakeout before the big move up.  Who knows (perhaps the MM do, but they are not letting on).

So on a daily basis, I will trade what I see rather than let my bias sway me.