The move down in gold yesterday surprised many traders and flashed an exit signal based on MarketClub's daily "Trade Triangle" technology. As we have mentioned before, we felt that gold was in a broad trading range and were not optimistic that it would shoot higher.
The action yesterday confirms that we have more of a two-way market. I expect we'll see further selling on any rallies from this level.
In today's video, I share with you some thoughts I have on gold based on one important element: how gold energy fields propel this market.
Two videos to watch before today's video:
Five Reasons Why Gold Will Not Make A New High This Time.
First published February 17, 2010
Energy Fields in Gold (New Video)
First published June 29, 2009
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All the best,