Gold Bias: Short

We remain bearish as long as the price stays below the supply zone. The current market behavior around that zone shows that the bulls are struggling to break to the upside. If they fail, then expect the price to head down to the demand area before the bull could step back into the market to push the price higher. Remember, the banks will never buy there. If they are successful in breaking the zone to the upside, then expect the price to continue going up.