If The Shoe FITZ

3rd Time Not A Charm

For the 3rd time Gold got up to the 2,478-2,483 level and for the 3rd time it failed to advance
 
This makes me concerned that this move may have now run its course for the foreseeable future.
 
In addition, a close today, if seen, below $2,459 would give us a bearish outside day at the high of the move to go with the "triple top"
 
All this suggests a danger we could retrace all the way back towards $2,353 to $2,364 again and if that range gives way, then possibly extend towards as low as $2,225 with initial support at $2,320 and $2,277-$2,288

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Tom Fitzpatrick

Tom Fitzpatrick

Tom Fitzpatrick, now the Managing Director of Global Market Insights at R.J. O'Brien, offers an impressive background. Originating from Ireland, his journey began at Chase Bank of Ireland, evolving through pivotal roles in foreign exchange (FX) at HSBC and Nedbank. His expertise expanded at Citibank in various global positions, culminating as Managing Director and Global Head of the CitiFXTechnicals product, delivering award-winning analysis across multiple asset classes.
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