Iridium
Short

GOLD BREAKS CONTINUATION WEDGE

FX:XAUUSD   Gold Spot / U.S. Dollar
175 2 2
Gold             broke a long standing continuation wedge only to find resistance at the 1215 swing low. Prices traded sharply down after the 8:30 data which included CPI             inflation and employment numbers. Given the current price structure all points to further downside.

Related Ideas

And here are other bounces points: On its way up, Gold will hit resistance and bounce at: 1220 and 1255
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Before going any lower, I believe GOLD will only climb. That is till it reaches 1285 and only then will it bounce back downward. :-)
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