Living on the edge
Gold took a beating last night but still remains in an uptrend, but on the edge of a cliff. It the $1235 area fails, then a good chance the gold price will fall to the next trend line at around $1160-$1180.
There is a pennant forming with the December lows and the 5 year down trend line from 2011.
If we zoom out to the weekly you can see the bigger picture. Click on images for a better view.
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