Here is the chart of Gold I posted for you the other day. Recall it showed the chart at resistance points being the Fib 61.8% retracement point of the Sept to Dec selloff AND price resistance of the early Dec high. A double resistance level that warned of trouble. See price selloff $30 from that resistance point. That is what technicals are all about. It doesn't guarantee price wont break through resistance but you must respect the fact it is resistance. And even more so when two resistance pts are at the same level. That is why I said don't chase this market as it has rallied a lot since the Dec low. So now a pullback is occurring. Keep an eye on the CCI 20 for one thing on the pullback. Price could hold at 1705 or pullback further to the 1667 breakout pt which would be a Fib 38.2% mild retracement of the Dec to Feb rally.
