Gold markets were very noisy on Wednesday, essentially standing still with a slightly negative tilt. The $1775 level is a major support level, so it will be interesting to see whether or not it holds. Furthermore, it is worth noting that we had rallied a bit during the session on Wednesday but got hammered at the 200-day EMA as gold continues to see issues. Taking a look at the candlestick from the Tuesday session, those types of massive negative candlesticks very rarely happen in a vacuum, and because of this I would anticipate that there are plenty of sellers waiting to get into the market. Obviously, the gold ... (full story)