Gold offers a shorting opportunity at 1346

Back to trading after a long delay....  I will try to post more frequently, but for now, here's a quick one.. Gold has been on a tear ever since its double bottom at 1180.. We hit 1343 today evening, and I think by tomorrow noon, one final push higher to around 1346 shud be enough to cap this move, and start a proper correction, and possibly new lows below 1180..


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Update I:  Gold hit the 1346 mentioned yesterday, and we got a good reaction.. Need more confirmation before we can be sure the trend has reversed, but this is how im seeing it for now...

 

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Update II :  we got the reaction at 1332, a nice dip before a rally to 1337 and then another dip (but we didn't get to the 1319 I had in the chart).. I am neutral for now, as I have a doubt about it breaking lower just yet. We might need one last move higher first..

 

 

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Update III:  what an end to a crazy week, the 1319 ive been waiting for finally comes.. Judging by the quality of the bounce, I will re-assess where I should reverse and go short. My hunch right now is that 1346 might not hold afterall..

 

 

 

Update IV: Markets open this Monday morning with very high volatility, and Gold has is right back up at the highs.. I didn't even manage to go long as i planned over the weekend. I just took a small short position near the highs, expecting some pullback...