Five fat fingers

Rumours of fat fingers are out.
So far we heard only about one. I suspect he has 4 more. Lets hope so.

Comment:

I cannot predict the intraday path of gold , but I can set up more or less expectancy targets of where I want gold to end in a given scenario roughly at a given time.
So the fingers are merely a humoristic thing based on his incident of gold dumping.

For some months back I saw a scenario of 1592 by beginning of December as a likely target for gold to move to. But for that scenario to play out, I think sentiment must become more extreme; we need a failed daily cycle to get there. If we do not go down to close to 1200 now, I think there will not be sustained capacity to drive gold to 1592.

If we now, however, move above 1300 from 1240 and not go to 120X, I will be start looking for shorts up there instead and brace myself for a bearish scenario to 950s.

So let's see where gold want to go.

Comment:

If this is bullish, I want to see a big, fat finger to 1225.