Last week’s drop to a six-week low could be a sign that cracks have started to emerge in gold’s uptrend.
To be sure, it doesn’t mean ‘down’ is the only way forward
it probably means that the top side is now more or less defined.
#GOLD slipped below a crucial floor at the mid-April low of 1970
a fall below a vital price pivot for the first time since the rally began in early November
suggesting that the tide could be beginning to turn against gold.
That is, the trend could be changing from up to sideways or down on the daily charts.
To be sure, it doesn’t mean ‘down’ is the only way forward
it probably means that the top side is now more or less defined.
#GOLD slipped below a crucial floor at the mid-April low of 1970
a fall below a vital price pivot for the first time since the rally began in early November
suggesting that the tide could be beginning to turn against gold.
That is, the trend could be changing from up to sideways or down on the daily charts.