Post by
wind00e on Apr 13, 2016 8:21am
Gold
Gold
Gold failed to move much higher after it gave a short term buy signal, by closing above 1256
Based on cycles and our overall technical model, we do not want to be long Gold at this moment
A close below 1230 indicates the end of the current bounce in Gold
When cycles bottom, we are looking to take a long position
Comment by
mstettler on Apr 13, 2016 3:47pm
I'd consider 1215 to be of greater importance as a pivot. If 1215 fails then 1200 absolutely must hold or we risk a correction to 1150. Too early to say though. We could just as likely reverse higher from here. The weekly close will provide more information on probabilities.