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Losing its luster as of late, on an announcement the South African mine is still having labor negotiation problems, Gold strangely sells off when production will be halted further. Today it lost over $15 breaking a key support level at $1739 and hitting an intraday low sub $1730. Before the major sell-off today, it formed three inside bars, and then started the impulsive sell-off. It has since then formed another inside bar, so a pullback towards the prior swing lows might offer an opportunity to sell the rally for bears.
Bulls on the other hand will look for a corrective pullback into the $1730 lows which is showing a strong pin bar on the 1hr chart, which is part …... Keep reading