04/14/2014 – Gold
June gold:
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.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.