1. In recent live meetings it was noted that any continued breakout above $1314 in June gold would advance to $1330/$31. This upside completion occurred in yesterday’s (Monday, April 14) session (yesterday’s session high, $1331.40).
2. Today’s June gold declined sharply back to the original $1291 buying territory from our recently completed long position. Although not an outright forecast, the possibility exists for continued decline in June gold for a test/attempt at $1267 (or lower) into next week (week of April 21).
3. The earliest indication for the above-noted decline will be a daily close below $1284. No new short entry is indicated until such a close occurs. Will update as the market continues to confirm.