Issued: 04/24/2015
1. In Mon., April 20 Williams edge futures meeting it was noted that continued daily closes above $1191 in June gold were the stronger position and the earliest indicationfor continued advance and test/attempt at $1218 (or higher).
2. Monday’s session closed at $1195.80, and therefore the aggressive long entry point. Ordinary long entries took place at $1203.10.
3. However, June gold declined further, triggering our $1191 protective sell stop, resulting in a loss on the entire position. This was unusual market behavior and, as noted in Wednesday’s (April 22) live meeting likely indicated further decline and a test of $1175. Will message any further entry or indication in June gold.
David Williams
Issued: 04/21/2015
June gold:
1. In yesterday’s (Mon., April 20) Williams edge futures meeting it was noted that continued daily closes above $1191 in June gold were the stronger position and the earliest indicationfor continued advance and test/attempt at $1218 (or higher).
2. Yesterday’s session closed at $1195.80, which is the earliest indication and most aggressive long entry point. Yesterday’s daily close along with today’s intraday action place June gold now into a ‘Buy’ position (current price, $1203.10) with the expectation of substantially higher prices coming.
3. Once long, a protective sell stop should be placed at $1191. The stop will be moved higher as the market continues to confirm.
David Williams