When you and I look at gold, if you call that a trend, terrific; I don’t. I call the market stuck between $2570 down to this support near the $2500 level, caught in there and we now have a pattern of lower highs and higher lows. So you’re making a wedge and the narrower the market gets into the wedge, the more that it narrows in.
You can see the battle at the 18-day average of closes. I told you when you were running here, when you pull back, markets often like to go to that moving average and use that as a stepping stone to whatever next is going to happen. It still doesn’t know what’s going to happen, it’s just staying at that.
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