RgMov (Tim West's proprietary trend/sentiment analysis indicator) is not confirming the recent highs while we have tested the yearly MA (253 periods ), making me think we'll see a healthy correction in this rally.
I'll be entering shorts here, and aiming for a retest of the mode in the near short term.
This doesn't imply the uptrend's dead here, merely that it might cool down, before resuming.
For the time being I'm out of gold longs, but willing to long silver on retrace, making this a pair trade (short gold/silver ratio ).
Stop loss has to be above the current resistance, I'd reccomend 1-3 daily ATR stop, and target a retest of 1076, or even down to 1060 give or take.
Good luck if taking this trade.
PS: see related ideas, it's time to long the market and short gold (and possibly time to short the gold/silver ratio )
Look at the reaction to the top FOMC level...