Now when you look at gold, you can see a correction’s underway. You’re down two percent for the month on a closing basis, so far. On a weekly chart, you finally are getting a bit of a correction in the market – that’s important. The market let go as you can see here last week, and that’s an important move. Now I want to see, can you get back over last week’s highs or lows, which one are you going to go for? You can’t really tell me right now. You have an idea, it’s pretty close to unchanged.
The pattern of the market maintains — higher lows, and higher highs. The support is all the way back towards the $2577 and a half zone. And the Bollinger Bands continues to stop the rally in the market. Last but not least, if you lose on a weekly basis the embedded reading, you got to do this and walk away. I think it’s too early to make that decision. An hour and 15 minutes or so after the market is opened, on a Sunday night. You got to give it some time and we will see what it can do.
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