In just a couple of trading sessions, gold price fell from 1345.28 to 1292.20, or a 4% slide. This slide broke below a previous consolidation, and thus invalidated the bullish breakout from that consolidation. You can argue that the pop up to 1345 was an exhaustion swing, and the market is now neutralized around 1300. You can also argue that the strong price action indicates that there is further downside risk. Of course, there is the third idea, that price is still bullish. I believe that the bullish scenario, even though possible, is not as probable as the neutral to bearish scenario. While price might not be ... (full story)