Gold moved steadily higher in quiet trading yesterday ahead of the Independence Day holiday in the US today. We expect the light trading to continue today and tomorrow with no strong direction either way.
Gold is continuing to rally from a deeply oversold position after bouncing from support at 1180 last week and rallying sharply on Friday. We expect the decline to continue once this counter trend rally has run its course - our subscribers are aware of our targets for this rally and our strategy for our next trade.
Oil surged higher yesterday after breaking through stiff resistance at $98 and looks set for further gains, with $106 our initial target.
Equities also look set to resume their rally with the S&P finding support at 1600. The dollar is close to resistance at 84-84.50 - if this level gives way, the dollar should rally sharply, pressuring gold.
Today's video for subscribers looks at the recent trading in more detail and some targets we are watching for this rally.
Gold is continuing to rally from a deeply oversold position after bouncing from support at 1180 last week and rallying sharply on Friday. We expect the decline to continue once this counter trend rally has run its course - our subscribers are aware of our targets for this rally and our strategy for our next trade.
Oil surged higher yesterday after breaking through stiff resistance at $98 and looks set for further gains, with $106 our initial target.
Equities also look set to resume their rally with the S&P finding support at 1600. The dollar is close to resistance at 84-84.50 - if this level gives way, the dollar should rally sharply, pressuring gold.
Today's video for subscribers looks at the recent trading in more detail and some targets we are watching for this rally.