Gold continued to climb yesterday and overnight in a correction of the decline to 1730 on Monday.

The failure to breach 1800 has resulted in many short term orientated traders closing their long positions, as we warned would happen.  The warning signs were clear and obvious - a couple of "shooting star" candlesticks on the daily chart, a big bearish divergence on the daily RSI and a break of both uptrend lines.

We were positioned for the sell off, closing our short position at 1736 for a profit of $36 on Monday.

Today's video looks at our strategy for our next trade, which is clear to us from the charts and recent price action.

Gold sold off for most of yesterday after a bearish weekly close at the lows of the week on Friday, as we anticipated.

We were expecting a sharp sell off after repeated failed attemps to break 1800 and a bearish divergence on the daily RSI and were positioned short in anticipation of this sell off. 

The market found support around 1730 and we closed our short position for a profit of $36.  We expected a bounce from support around 1730 and this is unfolding this morning.

Today's video looks at our target for this corrective bounce and our strategy for our next trade.

Gold sold off on Friday after a couple of attempted rallies were used as selling opprtunities and the bearish tone has continued overnight and into today.

Gold is now trading below 1750 and looks likely to test the 1738 support shortly.  If this level gives way then there are a number of support levels that we have identified below this.

Today's video looks at the trading patterns over the last few days and likely levels of support for this correction.

Gold remains in a "sell the rallies" mindset and continues to be vulnerable to a sharp sell off at this time.

Yesterday gold attempted to rally and found resistance at the 20 DMA before turing lower, finding support around 1760.  Again this morning the 20 DMA, currently around 1773, has capped the attempted advance.

Today's video looks at our reasons for taking a short term bearish stance in more detail and our downside targets for a correction.

The gold market remains in a "sell the rallies" mindset from a short term perspective, further declines are likely considering we have broken the uptrend line, retested it and remain below it.

Yesterday saw very quiet trading with a downward bias, though the selling was mild and some physical buying is supporting prices.

We would expect any further declines to be short lived, with prices expected to hold above 1700.

Today's video looks at our targets for the correction and the recent trading action in more detail.

After finding resistance at the rising trendline that was broken on Monday, gold sold off for most of the day yesterday and has continued to sell off this morning.

The selling is mild and orderly however and the market is still seeing lots of physical demand.

With the RSI on the daily chart falling towards 50, we do not expect to see significant further declines from here, though it is likely that there will be some further selling in the next day or two.

Today's video looks at the action from yesterday in more detail, our strategy for our next trade and some important Fib retracement levels.

The support at 1768 held and gold rallied in the afternoon yesterday, following oil higher, to finish the day around unchanged and form a "hammer" candlestick on the daily chart.

After finding resistance at the rising trendline that was broken yesterday, gold has sold off a little this morning and is currently trading around 1774.

Gold needs to get back above the rising trendline quickly or risk a stronger sell off, though the market will be well supported by physical demand in the 1738-1750 area, particularly as Chineses buyers are back from a week's holiday and Indian buyers are very active at this time of year.

Today's video looks at yesterday's market action in more detail and some important Fib retracement levels.

We commented in our update to subscribers on Friday that if we didn't break through the 1780-1800 resistance area after the US jobs numer, there was a strong probability that we would see a deeper decline in gold.

This morning, gold has sold off below 1780 and has broken below the rising trendline that we have been watching for signs of a top, indicating that the probablility of a decline from here is rising.

Gold bulls need to lift the market back above 1780 quickly - the market has bounced three times off 1768 this morning wihch is acting as support.  This area must hold to avoid a larger sell off developing.

Today's video looks at our open trade and the maket action of the last few days in more detail.

Gold continues to grind higher through this 1780-1800 resistance area, with the market well supported by buyers on any dips and short covering.

The market hit a new rally high at 1799 overnight and is on the cusp of triggering a huge wave of buy stops which would propel the price well past 1800 and on towards 1900.

The jobs number from the US could be the push that the market needs to smash through this solid wall of resistance and see the bears in full retreat.

Today's video looks at the price action from yesterday and the big picture on the weekly chart.

After a very quiet day of trading yesterday, gold is again attempting to break through resistance at 1780 and must hold above it this time.

The "flat topped triangle" pattern on the chart appears to breaking out to the upside, as is usually the case with this chart pattern, though until gold can break to new highs above 1794 and hold the gains, we will not have confirmation.

Today's video looks at the impact of the oil price on gold recently and the short term chart pattern that is developing.