Traders of paper gold rejoice! Stackers of physical gold yawn. Officially the gold chart shows a short term up trend defined by a higher high and a higher low. The games played are the games that please us in the end, or we would not play? Traders should be long with a stop below the latest swing low at 1646. Understand that the game you play has wider implications than instant gratification of your warrior spirit. You feed the very system that robs you when your TA is impeccable. You are outgunned by entities that know no limitation in liquidity. Come over to the white and deny the the black side. Buy and hold physical gold. Hit the gold short where it hurts.
Resistance waits at our old friend 1680. Rest assured the bots are ready for you bid in paper at this level. If the swing is for real and the bots don’t come a knockin’, 1710 is the short term target. Support is the current swing low followed by 1627. In my last post I suggested a higher low was in offing and I think it is made. Look for a decent opening on Monday followed by a hit job on Tuesday. I see a test of the 1710 area next week, then another “intervention” by the enemies of physical gold. A stacker of gold is made large and in living color in the mid 1600s. Buy the precious and turn out the lights!
Head and shoulders reversal is very much in play. Can you say $2080?