Gold has rebounded to $1534 from a low of $1522 but the break of $1532 did a number on the charts. A daily close below $1532 would be especially bearish.
We broke below the September spike low and traded at the lowest since July. We also broke the 3-year uptrend that began in late 2008. It’s not a good day to be a gold bull and it’s looking like 2012 will be a sideways year.
