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Gold Slides Further, 2014-Low in Sight

Gold price continues to fall since the March and 2014 high of 1392. It is now just below 1272, almost a 10% slide.


(gold daily chart, 4/24)

Bearish:
Today, price cleared below the 1276 low from March signaling bearish continuation. Looking at the daily chart, it is hard to anticipate support until around 1200, near the 2014-low, or even lower around 1182, near the 2013-low.

Another bearish sign is that the RSI held below 60. A bearish continuation swing occurred after the Stochastic-RSI combination of 80-60. This reflects bearish momentum.

There is a swing projection toward 1215.