This looks like a shorting opportunity after filling th gap left yesterday. But i think the economy is not doing as well as the stock market indicates so I am going to remain cautions on gold since it is counter trend to the s&p. the govt needs to have the economy look better than it is hence the new high in the stock market. I dont believe it. when things look different than what is really happening these days, I remain on alert. Maybe gold and the stock market are diverging.
Comment:
trading below 1338.14 would confirm intermediate trend is down. short term bearish until confirmed.
Comment:
short term short from current level or confirm on trade below 1342.60 and intermediate term short confirm on close below 1338.14
Comment:
short term target 1338.14
second target 1323.67
second target 1323.67
