Despite yesterday’s violation of 1353.30 (illustrated in yesterday’s letter and still in current video), it remains capable of session containment today, 1398.50 in reach and able to contain session strength. Pushing through 1398.50 allows 1427.00 intra-day, also able to contain session strength, and the level to settle above for signaling 1464.40 – 78.60 within the week, able to contain strength through next week. Though not expected this week, closing above 1478.60 signals 1522.50 within 3-5 days (hours?), primary mid-term resistance able to contain strength into May activity, below which long-term support at 1285.6 –1303.9 is expected within April time horizon. Downside, breaking 1353.30 signals 1328.50, able to contain session weakness, below which 1285.60–1303.90 is expected intra-day, targeted long-term support able to contain selling through May, possibly later year.
Gold ETF & Futures Collapse 2013 (update 4-16-13)
Home / Gold ETF & Futures Collapse 2013 (update 4-16-13)
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