The Hourly 5 Channel Up broke downwards as yesterday's positive Pending Home Sales weigh favorably on the DX. As I said yesterday the Hourly 5 EMA200 at #1,495 is there to support as a last resort measure, but if it breaks the (D) Support #1,483.80 will be tested. Note here that the (D) EMA50 hasn't been crossed throughout Gold's aggressive uptrend since late May (last time we had a touch on that line was on May 30th, ever since it has been supporting). If that breaks expect a pull back to #1,465 with the potential of a longer term decline towards #1,400 where the (D)EMA200 is. As long as #1,483.80 holds, Gold will be neutral on the medium term
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- Few other un-official channels are not mine, they are copies using my real information (impersonating me and my work / identity) so keep that in mind and beware of those.