Issued: 07/29/2014
Dec. gold:
1. Today’s Dec. gold advanced further and attempted completion of both the $1312 and $1316/$17 final upside targets noted in Friday’s (July 25) report (today’s session high, $1314.60, so far).
2. Traders long from either the $1306 or $1308.50 levels have now exited a portion of their long position at/near the $1312 initial upside target.
3. Today’s attempt at the $1316/$17 upside target may be all the gold market can do, for now. If this is the case, a short-term decline would likely result. However, should $1316/$17 be reached, further long position exit should be taken as noted in the original update.
4. We have moved our protective sell stop up to $1305. This stop will continue to be moved higher as the market continues to confirm.
David Williams
Issued: 07/29/2014
Dec. gold:
1. Today’s Dec. gold declined and triggered our recently adjusted $1305 protective sell stop. This resulted in a successful trade.
2. As noted in #3 of today’s (Tuesday, July 29) previous update, the failure to reach $1316/$17 would normally result in a short-term decline which is underway now. Will message any further entry or indication.
David Williams
Issued: 07/25/2014
Dec. gold:
1. We have now rolled into the Dec. gold contract.
2. In today’s (Friday, July 25) Williams edge live meeting it was noted that Aug. gold (then trading at approximately $1300) had a near Roadmap indication for a fast advance and test/attempt at $1316/$17 (or higher) into early next week.
2. The Dec. gold contract also shows a very similar indication for advance and test of $1316/$17 early next week (week of July 28).
3. Since today’s meeting, Dec. gold has advanced substantially and is currently trading at $1306, approximately $6 – $7 higher than it was at the time the indication was given out.
4. Aggressive can buy Dec. gold at the market (approximately $1306) with an initial protective sell stop at $1299.
5. Ordinary can enter long at $1308.50. Initial long position exits should be taken at/near $1312, then at/near $1316/$17. Any remaining position should be held for the possibility of higher prices to be messaged in a subsequent update. Will update.
David Williams
Issued: 07/27/2014
Dec. gold:
1. Our previous (Friday, July 25) Dec. gold report indicated aggressive new long entry at the then current price of approximately $1306.00, along with ordinary (non-aggressive) new long entry at $1308.50. The $1308.50 buy stop was subsequently triggered.
2. The report indicated initial long position exit at/near $1312. Friday’s subsequent swing high was $1311.00.
3. Continued hourly and especially daily closes above $1304.00 are the stronger position.
4. Our protective sell stop remains at $1299. The stop will be moved higher in Monday’s session as the market continues to confirm.
David Williams
Issued: 07/28/2014
Dec. gold:
1. Today’s (Mon., July 28) Dec. gold made its second attempt at our initial long position profit target at/near $1312 (today’s session high, $1311.40, so far).
2. Traders long from either the $1306 or $1308.50 (noted in Friday’s July 25 report) exited partial long positions at/near $1312. Dec. gold’s inability to touch $1312 (an easy number) is of some concern.
3. As noted in the original update, the next profit target is at $1316/$17. Should Dec. gold be unable to reach $1316/$17 by tomorrow, Tuesday July 29, our protective stop will be moved up more aggressively.
4. Our protective sell stop has been raised to $1302. This stop will continue to be moved higher as the market continues to confirm.
David Williams