1. Continued hourly and especially daily closes above $1308, or $1305 indicates a further advance and retest of $1317/$18 (or higher) into mid-week (week of Aug. 11).
2. Therefore, any further test and hourly or daily close above $1308, or $1305 indicates new long entry for the above-noted advance.
3. Will update (or present alternate long entry) as Dec. gold continues to confirm as noted above.
1. Today’s Dec. gold tested and closed above both $1308 and $1305 noted in our previous (Sunday, Aug. 10) update. This is the stronger position.
2. However, our preference is to await tomorrow’s early Dec. gold session before taking new long entry based upon the above. Will update.
1. Yesterday’s (Monday, Aug. 11) Dec. gold session closed above both $1308 and $1305 buying territory noted in our previous (Sunday, Aug. 10) report. This is the stronger position and indicated a quick advance and test/attempt at $1317/$18 (or higher), noted in the original report.
2. Although no new long entry was yet messaged, self-directed longs were instructed to use a protective sell stop at approximately $1303 in yesterday’s (Monday, Aug. 11) Williams edge live meeting.
3. Today’s (Tuesday, Aug. 12) Dec. gold session advanced quickly and completed the forecast $1317/$18 upside target (today’s session high, $1317.20, so far).
4. A daily close today above $1318 is the stronger position below $1314 the weaker position. Will update.