Gold Rally Vulnerable Below 1318

From dailypriceaction.com

On February 20th I wrote about a rising wedge pattern on gold. The market was testing wedge resistance at 1345 as I was writing that commentary. By the New York 5 pm EST close, gold had carved a bearish pin bar. That pin bar took gold back to key support at 1323. The market remained there for a few days. However, yesterday’s session closed below 1323 and also tested wedge support near 1318. We saw buyers take gold higher earlier today, but they were unable to keep their heads above the 1323 area which is now serving as resistance. That brings our attention back to rising wedge support near 1318. If sellers manage a ... (full story)