Gold's $4,000 Moment: The Cracks Are Starting To Show

Gold's pressure cooker

Gold is increasingly trapped between the massive $4,000 level and the major downward-sloping trendline. Today's candle is shaping up to be the biggest downside move since the latest squeeze higher. Note that the bounce didn't even manage to test the 50-day MA. Gold's psychology has become increasingly complex, with bulls and bears fighting for control. The compression is building, and the eventual breakout could be violent.