| Gold - Breaking Down Posted: 27 Jul 2010 07:52 AM PDT  Price action on gold (a daily chart of which is shown) as of Tuesday (7/27/2010), has just tentatively broken down below a long-term uptrend support line that extends at least all the way back to the October 2008 low. This breakdown is significant because the broken trendline has accurately defined the bullish trend in gold for at least the past 21 months. For more technical analysis on gold, please click here for Tuesday’s (7/27/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here. 
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