Gold saw a dramatic move downward Sunday evening, with the yellow metal falling 5%. The price has recovered on Monday morning, but is still down from Friday's close. Chris Vermeulen, chief market strategist of InTheMoneyStocks.com, said that the bear trend is still intact and that prices could still head lower before a trend reversal takes place.
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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.