1. Watch for any test of $1217/$15 in June gold into mid week which will be an important juncture and may prompt new entry. Keep this in mind. Will update as the market confirms.
1. Our previous (Mon., May 18) June gold report indicated to watch for any test of $1217/$15 in June gold into mid week (Wednesday, May 20 (+/-1 day), coming down from Monday’s May 18 close of $1225.30.
2. Today’s (Tues., May 19) June gold session declined sharply and completed the $1217/$15 downside target (and lower) completing the forecast. How the market handles these levels (and somewhat lower remain important and may prompt new long entry. No new entry is being indicated at this point. Will update as the market confirms.