DougCarnahan

Short term PT @ 1315-13.30

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Following this simple step down procedure over the next week, I am assuming we will test 13.25-30 in the next day or tomorrow followed by another dip in the weekly low and retrace to test the 1320 area until more information comes out about our economic outlook throughout the week.With good support levels around 1313-1310 are broken we can see further down side possibly into the 1200's in the next few weeks. This short term bit of volatility seems to be riding the same pattern and I would take full advantage of it.
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