Ok, I admit it i have been slow off the mark updating my thoughts on Gold and this morning i annotated and saved the chart on the LHS and by the time i come to post it price has already achieved gone though the important level of the red horizontal line where i wrote first target and the current market is shown on the RHS. I looked at the market yesterday and was filled with uncertainty about where we go from here. The down sloping green and magenta UMLP's will no doubt provide some resistance but price should go through them as price never made it down to their respective centre line (as per Andrews) so we could have a retouch on the top of either of these two that provides a long entry. There is no doubt that the second touch on the aqua/blue LMLP (circled) was the second brief opportunity to get long but it took a chance with a buy /1104.30 stop with intial stop @1103.30( this was the low of the test/poke bar) and have since moved it to break even. Next objective is to see if we take out previous highs around the 1127.60 level...but whatever happens we are making higher lows and higher highs and price has more energy to expend. My ultimate objective is 1129.50-1130 on this trade.
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