This past Monday I wrote about how gold had reached a confluence of resistance at 1322. It’s the intersection of rising wedge resistance and a horizontal level that has played a role since January 2018. When I wrote Monday’s post, the market was trading just below 1322. Fast forward to today, and you can see that gold is now around 1310. But the significance of Wednesday’s move comes down to a level I pointed out on Monday. Like any rising wedge, the one below hinted at exhaustion from buyers. However, up until a few hours ago, this pattern was on the more speculative side. That’s because gold was still trading above ... (full story)