Morning all. Thanks Jim.
GOLD. OK. Haven't seen any reason why the big jump except that peeps saying US$ topping out. Not a good reason imo.
So PoG testing the recent upper resistance at $1090. Still needs to get up thru $1200 for a real bounce.
While this may well be the real thing, I'll get non technical for a minute. Whenever I see a chart heading towards an obvious zone of testing (PoG at $1000) then it gets there nearly every time. I still think gold has to go to $1000 b4 it can take off.
However, in the perverse world of markets, this could be just the reason PoG took off b4 it got there.
We still need break thru $1200 then $1400 to see uptrend in place. imo
Happy Trades
Day Trading 7 Dec Pre Market, page-20
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