Quick note that previous projections to 2100 still maintained and appear to be on track, despite a recent retracement in Gold, partially due to the sudden rise of the USD.
Although Gold prices fell below the daily 55EMA, today (5th May) saw a gap up in Asian hours after opening. There is a strong follow through (Gap and Run) and IF it closes at this level, then technically, Gold is likely to be back on the uptrend again.
Watch as the MACD is turning upwards to crossover. May is an important month to break out of consolidation.
It looks like Gold is rolling over. Do you see the current situation as a technical breakdown ?
Auguraltrader
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@RealMoney617, Yes it appears to be... but I would wait a couple more days before I decide. It is at about a support, and I would like May to end, or a clearer picture of the breakdown.
This past week (and the next week) is a transition rout. What surprised me was that Gold got affected, as did all other classes too (not sparing crypto). Winners will emerge out of this chaos and we just need to look for them... soon enough.