From Trader's Narrative:

No sooner do I write a bullish commentary about the repeated cup and handle formation in gold in mid-June, than the yellow metal decided to walk right back from completing the most recent example of that pattern. It is a good thing that I’m used to the market liberally heaping such indignities on me.

Since mid-June, the price of gold has dropped from $1256 to $1161 or -7.6%. Within the context of gold, which is a rather volatile commodity, that magnitude is relatively small. More importantly, price has...
 
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