In what can only be explained by options expiry related trades, gold plunged $25 in a matter of seconds on the COMEX open yesterday, taking everyone by surprise.
However gold found support at 1705, forming a "triple bottom" on the charts and has since recovered well off the lows. The market is back below the 1730-1738 resistance level which proved so difficult to break previously, though the bullish trend remains intact as long as the price of gold remains above 1700.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's price plunge in more detail and our reaction to it.
However gold found support at 1705, forming a "triple bottom" on the charts and has since recovered well off the lows. The market is back below the 1730-1738 resistance level which proved so difficult to break previously, though the bullish trend remains intact as long as the price of gold remains above 1700.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's price plunge in more detail and our reaction to it.
