Gold Price Daily Key Reversal; Next Drop Coming?

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “gold has been in a state of indecision since July. Each rally has failed at the trendline and each high has been lower than the prior high. This may need to resolve with a drop towards the low 1960s before broader strength can resume.” An intense breakdown resolved the indecision (well below 1960s). Today’s key reversal may be the beginning of another leg lower.

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