Gold continued to build on Friday's short covering rally yesterday, though volumes are light and with the 4th July holiday coming up, we may not see a strong move in gold until after the weekend.
We commented last week that gold looked ready to find support and a recovery rally which looks to be the case, though we suspect the downside is not quite finished yet.
We are expecting a resumption of the downtrend once this rally runs its course and our subscribers have been informed of our targets for this rally.
Equities and oil are surging higher again after falling sharply last week - again we may need to wait until next week to ascertain the strength behind the moves and the true nature of these markets.
The dollar is moving back towards resistance at 84-84.5, a move through this zone will target 87-88 in the first instance and be bearish for gold.
Today's video for subscribers looks at the recent trading in more detail and our targets for this recovery rally.
We commented last week that gold looked ready to find support and a recovery rally which looks to be the case, though we suspect the downside is not quite finished yet.
We are expecting a resumption of the downtrend once this rally runs its course and our subscribers have been informed of our targets for this rally.
Equities and oil are surging higher again after falling sharply last week - again we may need to wait until next week to ascertain the strength behind the moves and the true nature of these markets.
The dollar is moving back towards resistance at 84-84.5, a move through this zone will target 87-88 in the first instance and be bearish for gold.
Today's video for subscribers looks at the recent trading in more detail and our targets for this recovery rally.