Gold's Change of Character 🌤️ The Morning Print

Good morning! 

Gold's intermediate trend has shifted lower, as evidenced by its recent change of character.

Here's the setup.

Gold had been in a persistent uptrend over the past several years.

It repeatedly broke out, consolidated, and then continued higher, following the same pattern all the way to $5,000.

And after each breakout, price rarely looked back.

Those are often the strongest breakouts because they leave little opportunity for late buyers to get in.

This latest move, however, looks different.

Instead of resolving higher as it had several times before, Gold broke below the $4,400 support level.

As it stands, the evidence points to a respectable top being in place.