We have been watching gold for signs that its current retracement may be coming to an end. It certainly looks like it is getting closer. Monday, saw gold pullback further to eventually find support at a 1,938 low, which completed an 88.6% Fibonacci retracement (1,937). Subsequently, by the end of the day a bullish hammer reversal candlestick pattern occurred. {chart} There are a couple technical reasons why last week’s low could be an important low for gold and might be the low for some time. The low for the retracement to date occurred at 1,932. That was at the confluence of the long-term uptrend line and the ... (full story)