The price of gold moved up to retest its 200 day moving average at $1824. The high price extended to around $1825 before rotating back to the downside and tumbling lower.
Looking at the hourly chart, the price decline fell sharply below its 100 hour moving average at $1819 and then the 200 hour moving average at $1812.86. The low price extended to around $1804 so far (new low for the day). Stay below the 200 hour moving average would keep the Bears more in control now.
Yesterday the low price came in at $1794.
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