Gold down for fourth day
Gold is down $14 in the fourth consecutive day of declines. It’s run stops below the March and late-January lows.
This looks like a big head-and-shoulders top to me. I outlined the paradigm in gold trading at the moment and it doesn’t look great. The early-year seasonal tailwind also disappears in April and beyond.
I can envision a fall to $1220 as retail bulls get wiped out in yet-another painful episode for gold bulls.