G/N Monthly Bias
After making a fresh low in late 2016, G/N rallies into a logical area, the low of the May 2015 break out bar - now resistance. The October 2018 bar makes an upthrust of this year's consolidation, also rejecting the lows of the May 2015 break out bar. This year's consolidation pattern appears to be distribution. Monthly bias is down. The daily chart shows a climactic down bar closing near a potential support. A short covering rally may develop from this level - some type of absorption has been underway since last week with price unable to make downside progress. Watching for now.
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