Gold can be analysed from a bearish perspective as per the following top-down analysis. This rhymes with the hawkish signals coming from the Federal Reserve and the market expectations suggesting a March Fed funds hike is imminent. Investors have extended short positioning and sold longs with yields across the curve moved convincingly higher. {chart} The monthly W-formation is a bearish reversion pattern where the neckline comes in at $1,783 with a confluence of the dynamic support line. Gold weekly chart: {chart} The weekly chart is showing that gold is struggling to break the prior double highs and a failure again ... (full story)