GOLD had a sharp move lower and tested below $ 2,300.00. RSI has corrected, but still in overbought territory, however, conditions looks like trading within the large range $ 2,300-2,450 until such time we break below $ 2,320 area solidly. Over all, I feel it is SELL into rally. The stochastic is turning negative but no confirmation for movement lower as yet.
Strategy SELL @ $ 2,350-2,400 range and add slightly higher. The medium term strategy deserves a wider SL due to the time frame it represents. I feel above $ 2,475 and profit order near $ 2,100.
Strategy SELL @ $ 2,350-2,400 range and add slightly higher. The medium term strategy deserves a wider SL due to the time frame it represents. I feel above $ 2,475 and profit order near $ 2,100.