1. As noted in today’s (Wednesday, May 20) Williams edge live meeting, continued daily closes above $1204 in June gold indicates a multi-day advance and test/attempt at $1219/$22 (or higher) into later this week (week of May 18)/early next week.
2. Any hourly or especially daily close above $1211/$12 will place June gold into a ‘Buy’ position for the above-noted advance. Aggressive can go long now at the market (current price, $1209.60).
3. Our initial protective sell stop should be placed at $1203.00. This stop will be moved higher as the market continues to confirm. Will update.
1. Aggressive longs based on yesterday’s (Wednesday, May 20) June gold report were stopped out today at $1203.00, resulting in a loss on the entire position. Should today’s June gold session close above $1201, a long reentry may be messaged. Will update as the market confirms.