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Gold drops out of uptrend
Gold has broken below key support levels this week, with both the first trendline, and then horizontal support being taken out. We are starting to see some strength coming back into play from here, with the $1326 support level key to further gains. As a result, a short-term move higher from here would not be surprising
However, unless we see North Korea announce another test, it looks like any rally would likely be short-term in nature - pointing towards further downside. As long as the price remains below $1358, further downside looks likely.
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