Too soon to say, but gold has now shed more than $25 from its morning high of $1,318.90 made around 10:30 this morning. Such a reversal is very bearish action, first rising above a critical buy signal, then collapsing back below it.
If gold can remain below $1,307.70 by the end of trading tomorrow, gold could be setting up for a MAJOR, devastating failure.
Stay tuned,
Larry
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