Over the past couple of weeks, we have talked about a possible Shoulder-Head-Shoulder pattern emerging in gold. It was actually confirmed as the price broke below the neckline but from there it couldn’t really get downside traction. Buyers repeatedly tried to push the price back above the neckline. And yesterday they succeeded in a massive so-called pullback, which occurs when the price is pulled back above the neckline. According to the theory of Shoulder-Head-Shoulder patterns it is not really busted until the right shoulder at around $1,325 has been taken out to the upside. But with the strong move yesterday I ... (full story)