Issued: 06/19/2014
Aug. gold:
1. Continued daily and weekly closes above $1320 in Aug. gold will be the earliest indication for a continued advance and test/attempt at $1396/$97 then $1416/$18 into July 2014 (+1 month).
2. New long entry will be messaged in a subsequent update, either from below $1320 (noted above) or from higher prices, depending on market conditions. Will update.
David Williams
Issued: 06/30/2014
Aug. gold:
1. Our previous Aug. gold update indicated that any further test and daily close above $1307/$06 into Friday, June 27 (+/-1 day) would indicate further advance and test of $1335, then $1339 (or higher). The test and daily close above $1307/$06 occurred on Thursday, June 27 (1 trading day early).
2. Today’s Aug. gold session closed strong at $1327.80, well above the critical $1320 level also noted in the previous updates.
2. Therefore, place a buy limit/new long position in Aug. gold between $1321/$18. Should the market be unable to trigger this buy limit, an alternate long entry may be messaged in a subsequent update.
3. Exit initial long position at/near $1326/$27, then further at/near $1334/$35. The final upside target is $1339/$40. However, substantially higher prices remain possible into July/Aug. including $1396/$97, then $1416/$18 into July 2014 (plus 1 month), noted in our June 19 update.
4. Once long, place a protective sell stop at $1310. This stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 07/01/2014
Aug. gold:
1. Today’s Aug. gold continued on the recent forecast advance from $1306/$07 and completed the initial $1335 upside target noted in the original June 26 update (today’s session high, $1334.90, so far).
2. Yesterday’s (Monday, June 30) buy limit between $1321/$18 remain untriggered, for now. This order may be canceled in a subsequent update if the market does not continue to confirm in today’s session. Will update.
David Williams
Issued: 06/26/2014
Aug. gold:
1. Aug. gold has been unable to close daily or weekly above the $1320 level noted in the previous update (highest recent daily close, $1319.30, so far). Short-term, this is the weaker position.
2. Further, the next important weekly top is due this week, the week of June 23 (+1 week).
3. However, any further test/attempt and daily close above $1307/$06 into Friday, June 27 (+/-1 day) will indicate new long entry for further advance and test/attempt at $1335, then $1339 (or higher) next week, the week of June 30. Will update as the market continues to confirm the above.
David Williams
Issued: 07/01/2014
Aug. gold:
1. Today’s Aug. gold completed the initial forecast advance from $1306/$07 to $1335.00 noted in previous updates (session high, $1334.90). Higher prices remain likely, longer-term.
2. However, the market is nearing a critical juncture on the upside, short term. Therefore, our buy limit/new long position at $1321/$18 should be canceled at this time. This is being done out of prudence. Will message any new entry once the market confirms.
David Williams