Gold Chart Goes From Bad to Worse

Among the myriad of yesterday’s technical casualties was this nugget (no pun). DGL (Gold) has violated bullish support dating all the way back to November of 2008. The chart’s downside target of 45 has been met, but price shows no sign of stabilizing, as evidenced by the newly-formed bearish catapult breakdown. As if gold bugs needed any more bad news following April’s steep selloff