As per the prior analysis, Gold Price Analysis: Bulls back in town through critical resistance, we have seen the pullback that the bulls were looking for, offering a discount to target higher highs in what is expected to be a weaker US dollar environment in the medium and longer-term. {chart} As illustrated, the price did indeed go to test the resistance but burst right through it, against the grain of the longer-term charts. A correction to the old resistance would be expected to hold at least to the structure if not just slightly above it near the 38.2% Fibo. {chart} The price has dropped further than anticipated, ... (full story)