Gold’s Experiencing A Major Chart Breakdown – Umesh Shanmugam

I try to pay little attention to what markets do intraday. The closing price each day is really all that matters. The most important price of the week is the Friday close. The Friday close is the price determined by traders willing to hold a position over a weekend.

Possible Massive Top
Should Gold close at or near current levels ($1532), it will be the lowest Friday close in 21 months. A massive top may be completed today. Gold bulls, take this seriously…very seriously.

Could test lows of $1300……wait and be in no hurry to buy for investors.

-Umesh Shanmugam

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