1. Today’s (Thursday, May 1) June gold declined and triggered our $1284 protective sell stop after yesterday’s (Wed., April 30) approx. $1285 aggressive long entry and partial long position exit at $1290.
2. A daily close today below $1284 is the weaker position. Will message any further entry or indication as the market confirms.
1. Any further touch and hourly or especially daily close above $1284 in June gold will indicate new long entry at or near $1284.00 for a multi-day advance and test/attempt at/near $1312 (initial profit target), then at/near $1317, or higher.
2. Should the above set up occur, an initial protective stop should be placed at $1274.00. This stop will be moved higher as the market continues to confirm.
3. Should the above set up remain unconfirmed, an alternate long entry will be messaged in a subsequent update.
1. Today’s June gold session declined and attempted our buying territory at/near $1284 noted in the previous update (today’s session low, $1286.10).
2. Today’s daily close above both $1284 and $1292 ($1292 noted in our previous live meeting) is the stronger position and the earliest indication for a test/attempt of $1312/$13 (or higher) into Thursday May 1 (+/-1 day).
3. Will message any new entry based upon the above in tomorrow’s (Wednesday’s April 30) session if the market continues to confirm.
1. Today’s (Wed., April 30) June gold declined and tested the original buying territory at/near $1284 noted in previous updates (today’s session low, $1284.90, so far).
2. Aggressive longs from today’s test of $1284 should exit initial positions at current prices (current price $1290).
3. An initial protective sell stop should be placed at $1284.00. This stop will be moved higher as the market continues to confirm.