Gold 651.40 - 9a EST

Here's a close up of the current market, same basic chart setup as below. One our bar, with bbands, trendline and moving average.

Any thoughts or suggestions?

We made it past the 50 and TL but seems like the previous lows to the left are holding it back.

We could fall off the table for another leg down, but I think that would have happend already. Traders will square up positions today and we must note that Open Interest at the Comex has declined quite a bit with this decline.

Anyway, if we go up today and punch that Bband above (656.35) , it may be off to the races.

Seems like everyone is afraid of 620 gold or 590 or some such number, why?

What I notice is that when accounts are down, and negative, ppl are afraid. I had a whole new perspective of the decline bc I was not long. I came back in near the first low. (entries below)

Still long, just in case, the bull starts bucking.
Good trading to you!