On Another Way If Gold Hold Recent sing low then Gold will can fire up ( need Confirmation before rally ).>>>>>>>>>>>>>>>>>>>>>>>>>>>.....
Gold’s failure at $1300 and weekly reversal have nullified any apparent breakout on the daily chart. Moreover, some traders and investors are neglecting the more important resistance levels of $1300/oz and the $1350-$1375/oz which stem from the 2013 and 2014 tops. The weekly reversal in Gold coupled with the continued poor performance from the gold stocks suggests a real breakout in Gold is not yet in the cards. The positive aspect is this failed breakout could lead to a selloff and ultimately lower risk entry points in a number of juniors. We will exercise caution and patience as we expect metals and miners to trend lower in the days and weeks ahead.
Gold’s failure at $1300 and weekly reversal have nullified any apparent breakout on the daily chart. Moreover, some traders and investors are neglecting the more important resistance levels of $1300/oz and the $1350-$1375/oz which stem from the 2013 and 2014 tops. The weekly reversal in Gold coupled with the continued poor performance from the gold stocks suggests a real breakout in Gold is not yet in the cards. The positive aspect is this failed breakout could lead to a selloff and ultimately lower risk entry points in a number of juniors. We will exercise caution and patience as we expect metals and miners to trend lower in the days and weeks ahead.
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please trail stop from 1300 to 1280
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day by day
The trend remains bearish