tag:blogger.com,1999:blog-1708908742323002823.post8586341254980618010..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Daily Gold Price ChartTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1708908742323002823.post-80634714482136043652011-02-22T15:53:29.469-08:002011-02-22T15:53:29.469-08:00Bruce - I will try to accomodate your request as t...Bruce - I will try to accomodate your request as time permits. I have had an extremely busy day today.<br />We generally want to see strong volume accompany any move higher since that is the force that lifts the market. When volume is tapering off it is generally indicative of a lack of conviction. <br /><br />STrong volume is not needed for a market to move higher; it can do that as many doubters sit on the sidelines unsure whether or not to join in. However, strong volume is necessary for a market to sustain a move higher. Once an overhead technical resistance level that has been a significant barrier gets breached, one will see the volume increase as the doubters then move in and conviction increases.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-19422419665861356502011-02-22T11:07:34.164-08:002011-02-22T11:07:34.164-08:00Hi Dan - have been following your posts for some y...Hi Dan - have been following your posts for some years at JSM and it's great to be able to follow your insights/musings here in more depth now. Thank you. <br /><br />A question, if you have time: a number of admirable technicians (Clive Maund and Morris Hubbartt) are sceptical of this recent move up in gold, as volume has not been strong. I would appreciate your thoughts on the role of volume in this move and/or price moves generally. <br /><br />Many thanks. - B. in TorontoBrucehttps://www.blogger.com/profile/15865565956814114397noreply@blogger.com