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ChristopherCarrollSmith

Gold likely to rally, but keep those stop-losses tight

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
ChristopherCarrollSmith Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Parallel Channel XAUUSD Gold miners
9
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parallelchannel xauusd gold miners
Gold dropped some today, but it's still within the upward parallel channel it's been forming. I expect a gold rally, but keep your stops just below the channel.
Comment:
JNUG's after-hours move would have you believe gold will break out downward tomorrow, but the chart actually looks pretty good for gold to recover. Selling volume has fallen off nicely, and the MACD is above its signal line.

snapshot
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