December gold futures – daily chart As another trading month comes to an end, gold traders will be watching wondering and waiting as the precious metal is once again poised delicately at a tipping point on the daily chart. June could best be described as a game of two halves to use a footballing analogy, with the massive wide spread up candle defining the two regions. The early part of the month was characterized with a slow recovery, followed by the surge at half time, and then moving into the second half of the month with a phase of price congestion, and there are now several key issues to consider from a technical perspective. The first of these is the ultra high volume of the 1oth of June, the highest volume of the month in fact, which saw the price of gold close modestly higher on the day, gaining just over $8 per ounce. At the time I suggested that this was an early sign of weakness.
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