06/01/2015 – Gold

Issued: 06/01/2015

August gold:

1. As noted recently, continued daily closes above $1184/$83 in August gold place the market into a ‘Buy’ position for a tradable multi-day advance and test/attempt at $1208/$09 (or higher) into the week of June 1.

2. However, today’s (Mon., June 1) session spiked somewhat higher at $1197.70 but quickly reversed and retested the important $1184/$83 support (today’s session low, $1184.00, so far).

3. Today’s session must close daily and hourly above $1184/$83 otherwise the current trade will be invalidated. Our protective sell stop remains $1180.00, for now. Will update.

David Williams

Issued: 06/01/2015

August gold:

1. As noted recently, continued daily closes above $1184/$83 in August gold would place the market into a ‘Buy’ position for a tradable multi-day advance and test/attempt at $1208/$09 (or higher) into the week of June 1.

2. Aggressive are already long from approximately $1188. Ordinary long entry occurred today upon the hourly close above $1192 (long entry at $1194).

3. Initial long position exit was taken at/near $1199, as instructed in previous updates. Further profit exit should be taken at/near $1207 (also noted in previous updates) and any remaining position held for the possibility of higher prices to be messaged in a subsequent update.

4. Our protective sell stop should be moved to $1190. This stop will be moved higher as the market continues to confirm. Will update.

David Williams

Issued: 06/01/2015

August gold:

1. Today’s (Mon., June 1) August gold session attempted the forecast advance from $1184 to $1208/$09. Today’s session highwas $1204.70 against the $1208/$09 upside target.

2. Subsequently August gold reversed and declined sharply, hitting our $1190 protective sell stop. This resulted in a breakeven or successful trade depending on entry (aggressive longs from $1188, ordinary from $1194). This is an unusual development and may prompt new entry in Tuesdays/Wednesdays session. Will update as the market continues to confirm.

David Williams

Issued: 05/27/2015

August gold:

1. As noted recently, continued daily closes above $1184/$83 in August gold will place the market into a ‘Buy’ position for a tradable multi-day advance and test/attempt at $1208/$09 (or higher) into the week of June 1.

2. Today’s session spiked below the $1184/$83 downside target (today’s session low, $1180.20, so far) and closed the day at $1188.30, providing the earliest confirmation of the above noted forecast/trade. New long entry in August gold is now indicated upon any hourly or daily close above $1192.00.

3. Initial long position exit should be taken at/near $1199, further profit exit at/near $1207 and any remaining position held for the possibility of higher prices to be messaged in a subsequent update.

4. Once long, a protective sell stop should be placed at $1180. This stop will be moved higher as the market continues to confirm. Will update.

David Williams