In this video, the Trader Guy looks at the commodity, gold for the January 12th session.
Gold/USD — Gold fell on Monday session to form a hammer candlestick, as you can see on the daily chart. It looks like this market is attempting to form a basing pattern. Gold is trading between the 50-day EMA and the 200-day EMA. Also, this downtrend line could cause some issues. Gold could slowly grind upwards. But in the meantime, it looks likely to consolidate between these two moving averages.