Gold price will keep sliding, but watch for this rebound level
Gold is down, at one point, 0.6% on Monday, but traders and investors alike need to understand that this really is not a big move, said Chris Vermeulen, Chief Market Strategist at TheTechnicalTraders.com. “Today, we’re just this tiny little red bar, this average, usually we see a quarter of a percent, or half a percent move in gold, and today we’re down only half a percent,” Vermeulen said. Gold miners, which usually lead the bullion in price action, have another 10% or so of downside before prices rebound, he added.
0:00 -Short-term trading action for gold
4:50 – Gold price momentum
8:40 – Gold miners
13:03 – Key levels to watch
15:36 – Stock market “breakdown”
17:18 – Best equity market sectors
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