Over the past few weeks, I’ve noted that gold’s almighty rally is showing signs of exhaustion on the higher timeframes. Not only has price action delivered several twists and turns since its latest all-time high (ATH) in April, but the weekly charts show overlapping candles, and a Rickshaw Man doji formed on the monthly chart in May. Moreover, May marked the first month since November that bulls failed to push gold prices above the prior month’s high. While none of this guarantees a strong bearish reversal, it does at least signal a clear change in the character of price action compared with the almost parabolic ... (full story)