Another round of consolidation has led gold to another round of selling, this time pushing price below a swing low from July of last year, and, at the time of this writing, below a pivot from March of last year as well. One more minor level at 1181 exists before gold is on its own until the 1120s if it is to bounce from price support. The issue in the past month with respect to support, has been the fact that there has been little in the way of price action which has suggested the decline is ending despite at times market conditions becoming oversold. Sentiment is starting to reach an extreme in the futures market ... (full story)