The Huge April Reversal in Gold Price and Its Meaning

From goldpriceforecast.com

Gold price ended April with a bang – declining by over $50 yesterday, and closing the month about $150 below its high. And that, my friends, is an epic reversal. Gold price was likely to decline here, as it has already broken below the rising support line, and it verified this breakdown. Quoting my yesterday’s analysis: Consolidations, pauses, and breathers are the same thing (their length differs) and they serve one purpose – to cool down people’s emotions and prepare them for the next moves. When prices move far and fast, it “seems” and “feels” excessive and out of order. But when prices stay there ... (full story)