Today Technical Analysis: Gold Reverses Earlier Gains, Slides Toward $4,520

From startrader.com

Crude brent has recently experienced strong selling from its peak near $110.33. Currently, price is staging a minor technical rebound, trading around $99.20. Oil is expected to remain under structural pressure unless a definitive breakout occurs. If the current bounce fails to cross and sustain above the psychological $100.00 barrier and the MA20 moving average, sellers will likely re-enter, dragging the price back down to retest the $96.14 support level. A break below that level would open the door for a continuation toward the $94.84 support zone. Buyers will need a high-volume close above $103.23 to signal a trend ... (full story)