Gold Clears Two Key Levels, Likely Bottom In Place

As i've been saying for over a week now, Gold has likely formed a complex bottom in place. Today it took out two key levels (1300 and 1321), hitting a high of 1338 (May swing low). I'll look for a pullback towards prior support before getting long, or a breakout pullback setup if we can clear the 1338/40 level. We did have a massive amount of shorts cover today (about 11%), so am expecting more of this during the week, but medium term shorts may push back before relenting more upside.


Kind Regards,
Chris Capre