Issued: 04/05/2016
June gold:
1. In yesterday’s (Monday, April 4) Williams edge meeting it was noted that although a retest of $1212 remained possible into Tuesday, April 5 (+/-1 day), a fast advance to $1242 (or higher) would be indicated into today (Tuesday, April 5) upon any hourly (or daily) close above $1229.
2. Today (Tuesday, April 5) June gold closed above $1229 and quickly advanced to a swing high of $1238.80 (so far). Partial long position exits should have been taken during the advance and any remaining long position held for the possibility of completion of the $1242 upside target.
3. A protective sell stop should be placed at $1225. This stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 04/06/2016
June gold:
1. In Mondays, April 4 Williams edge meeting it was noted that although a retest of $1212 remained possible into Tuesday, April 5 (+/-1 day), a fast advance to $1242 (or higher) would be indicated into today (Tuesday, April 5) upon any hourly (or daily) close above $1229.
2. Tuesdays, April 5 June gold session closed above $1229 and quickly advanced to a swing high of $1238.80. Partial long position exits were likely taken during the advance and any remaining long position held for the possibility of completion of the $1242 upside target.
3. However, June gold remained unable to complete $1242 and today (Wednesday, April 6) declined and hit our $1225 protective stop, resulting in an approximate breakeven or small loss on the entire position. Will message any further entry or indication in June gold.
David Williams