The gold market has been trending lower since early September and just recently hit a nearly five-month low. The bears are in firm near-term technical control, which means the path of least resistance for prices will remain sideways to lower–until there is a near-term chart clue to suggest the downtrend has ended. It will take a move back above $1,300.00 to give the bulls a good boost of power, to then suggest a price uptrend could be sustained. Stay tuned!–Jim
