Last week, I wrote about gold’s reversal potential. If you saw Tuesday’s XAUUSD video, you’re well aware of why I thought the metal might reverse from the 1530/40 resistance area. I also discussed gold in Saturday’s Forex Forecast video. In fact, if you watched until the end of that video, you saw why last week’s reversal at 1536 was reasonably predictable. But the more important topic of discussion was the potential head and shoulders pattern. A daily close below the neckline at 1485/90 area was needed to confirm the bearish reversal pattern we’ve been discussing for several weeks. That materialized on Monday. ... (full story)