Looking at the 15 minute chart, when gold touched 1236.2, it blasted upwards to 1244 in 4 bar charts. These 4 consecutive 15 min bars had a volume of 30,000 contracts traded. Also looking at the 15 min bar immediately before and after this event you can add 15,000 contracts. so in a period of 90 minutes it traded a total of 45,000. Since that the price has drifted sideways occupying the upper middle of this range and volume has disappeared. This is the type of action you would want at a bottom, but until we actually move above $1244, anything can happen.