Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
As a result, yesterday’s comments remain up to date, and I encourage you to read them to understand what should unfold in the weeks ahead.On Wednesday, I wrote the following:
The reversal is likely anyway because the fact that both resistance lines cross creates a triangle-vertex-based reversal point. And it is due right about now. On the chart below, it’s clearly visible that gold did indeed move to the above-mentioned combination of resistance levels.The reversal was clear, and if we want to be precise, gold moved slightly above the resistance line and then invalidated this tiny breakdown, which made the reversal even more bearish!Besides, gold was not the only part of the precious metals sector that reversed in a profound manner. We saw the same things in silver and mining stocks.
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