The last time I ran a commentary on Gold (April 24), I talked about the possibility of price resuming it bearish run from about its present zone, when price gave off an inside bar at the close of trading for that day. But the bulls managed to push the Metal further long but it now appears that the bulls have finally given up on this push. Notice the inside bar which also managed to close below support. This is a bearish signal and if price fails to break back throuh that support which should now act as resistance, we would witness another round of selling off of the metal.
My Recommendation: Sell on a failed attempt to break through the just broken support.
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