By CommoditiesMansion.com
Gold has printed a negative day, but not all is as it seems. The day is actually turning into a bit of a hammer, and shows support at the $1,410 level – a vital area for the bulls. Because of this, it looks ripe to retest the $1,440 level, as long as $1,410 holds up. Also of note is the fact that the most recent high was higher than the one before it, as well as the most recent low being higher than the previous one. This is classic peak and trough analysis that tells us this market wants to go higher.
Originally posted here
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