Jnug to Gold Nov 15
Well so Far so Good. We still have room to run, but to how high? I measured the height of this move over the last two days. Then I extended it and it reached that up around $12.27. My thought on the issue is that tomorrow will kind of give me an idea of how the next three or four days will go. Today was very promising. The economic data this morning should have killed gold but it did not. That is very . I am hoping for tomorrows data to gap us up to that first strong resistance between the $8.90 - $9.60 area. If we punch through that then I feel good about us reaching the $12.27 range. Then, As you can see, we should be due for a couple days of consolidation. I am envisioning a type of trading for a couple of weeks. Not what I like to trade unless its real big swings. But based on what I am seeing, I think, IF we reach that $12.27 area by EOW or beginning of the next, then I will quickly buy into dust for about four days and then reconsider what to do. I may jump into OIL DWTI for a couple weeks at that point as the upward consolidation for oil to $48 should be over by then and the continuation down to $40 - $39.
The real question that is plaguing me is, .....when do we fill that gap up to $15.76?