GOLD (Daily) – Shadows over golds future… at least medium term
The spectacular rally since last August completely ran out of steam. The uptrend line btw Nov. and Jan. low was broken (with significant bearish pressure – weekly engulfing ) and the subsequent rally hit the wall at $1320 and a lower high was created… Now the next hurdle for bears is the apparently strong $1280 level which equals to 38.2%