On April 25th I discussed how gold had a critical decision to make. The market needed to decide whether it was going to break below the trend line from the 2018 low or above the trend line from the year-to-date high. You can see where sellers tested trend line support on Thursday. However, the 1270 close kept the level intact as support; hence Friday’s bounce. This is why it’s essential to wait for a daily close below support or above resistance before considering an opportunity. That goes for any market, not just gold. I have removed the 1280 horizontal level from my chart because, well, it doesn’t really matter ... (full story)