Gold: Not a Good Time to Be Bullish

From dailypriceaction.com

It seems gold may be heading lower next week after all. I mentioned gains might be limited this past Monday due to a confluence of resistance near 1235. Sure enough, the 1235 resistance area held up all week. Then on Wednesday, sellers decided to take the market lower and never looked back. You may recall the other key level from Monday’s post was 1215. It’s the horizontal level that allowed buyers to extend gains in mid-October. The 1215 level also held up last week during the rather aggressive October 31st retest and subsequent November 1st bounce. But all that changed with yesterday’s close. Friday’s final ... (full story)