Trendline break: Gold price fell today and pushed below a rising trendline that goes back to key lows in May 2012. In the daily chart this holds the recent momentum bearish as the RSI has tagged 30 but held under 60. It the RSI falls below 40, it shows persistent bearish momentum developing. Price structure within a falling cahnnel going back to Oct. 2012 also shows bearish bias. Range support: Price action is bearish and bias is bearish, but lately, the market has gone into a sideways range roughly between 1698 and 1625. As the current decline nears 1626-1635 area, the bearish outlook will be tested. A break below ... (full story)