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Metal Markets...Limited hours on Trade

In the gold market, it's possible that the market wants to see a break down to the 18-day average to feel that out again, the way that it did back here but make no bones about it until the market closes under the 18-week average, the bias is to the upside which means I'm waiting to see when we get a buy signal, where the market flips around. 

When we take a look at the daily bar chart, you can see you've just been in a very tight range down here. You still have the market with the trend down lower highs but recently it's established higher lows. So you've got a market that's narrowing in like that it's taking a little bit of time but that's what it's doing...and the battleground to me is going to be the 18-day average of closes. If it closes over that, you'll have changed the pattern to one.

If it stays just like this and gets over $2352.30, that would give you higher lows and higher highs – and if you close $2350.80 it turns into an all-buy signal.

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