Chart - TA, page-379

The phenomena about gap-fill I suspect is like anything that cannot be explained, the more we see it repeating the more we believe/follow and act when it does. In fact, recently I had the opportunity to get out at a much smaller haircut on a stock that didn't work playing the gap fill on the bounce!

It does not matter how I dissect the charts of related parties, I am bearish ST on gold. So under these conditions, the probability of any lower gap fill is higher and the opposite is true when the price trend flips.

I note that DEG/RMS today filled the gap but what next?

I dreaded the $1767 level on XAUUSD hoping that the early Jan spike could change the momentum but it would appear now that a double bottom is the best bet for a change of trend. Failing this, I think I will be stating the obvious for the sector.