Time for a breather in gold?

Solid foundations. New horizons.

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ElPrimero

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Time for a breather in gold?

posted on Jun 05, 2013 09:31PM

We elected the third minor Daily Bearish Reversal today confirming that the target week of 05/20 should be a temporary high short-term. Gold did not elect any minor Daily Bullish Reversals against still warning that the rally thus far is a dead cat-bounce. We need a daily closing ABOVE 1448.50 on spot to firm up support temporarily, otherwise lower lows are still ahead.