Gold is frustratingly slow at the moment and seems to be following it's own course. Overdue US stock market correction should give it some impetus.
Comment:
Overnight low of 1260.70 pierced the long-term uptrend line from the December 2016 low but held the line.
Comment:
Sentiment turning bearish with 200MA broken. Gold is looking very tenuous here with no willingnesss to break to the upside.
Comment:
A break down to the bottom channel of the pitchfork and/or the multi-year downtrend line looks quite feasible.