Gold was once again knocked for a loop in today’s session as Ukranian
issues continue to fade from traders’ minds. There is not much to add
to my weekend post noting the various time frames on the gold charts but
suffice it to say for now, that gold is nearing an important inflection
point centered around the $1280 level.
The market is working lower in the range noted within the rectangle
with the -DMI back above the +DMI indicating the bears are back in
control of the market. The daily chart is not, as of yet, reflecting a
trend lower, just a move back down within a broad range.
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