The expected decline of the yellow metal has occurred. However, it did not come into reality exactly as it was expected.
The bullion broke the narrow ranged channel down pattern. The narrow pattern turned out to represent the junior decline in the borders of a wider descending pattern.
The newly discovered pattern was the one, whose upper trend line provided the resistance needed for the speculated decline.
In regards to the near future, on Thursday morning the range down to the levels near the 1,300.00 mark was free from support.
