Long Term Gold Update

Gold is still holding that big support at the 61.8 Fibonacci retrace. Prior Gold Update. Today, it is still acting like a bottom and we have divergences in the indicators. This is also likely (though not a given) bullish for AUDUSD and NZDUSD, which I have been posting and tweeting about. 

Here is the GLD chart: As for shorter term trading, on a short term daily chart, we have the Elder Impulse entry signal today (13 EMA turned up with a rising MACD). The bollinger setup would look for a retake of the 50 DMA a smidge under 122, and then a move to the top of the bands at 131ish and falling for the trade. Stop is about 4 pointes lower at the 114.46 candle low. 

There is always a bull path and a bear path. We cannot know which path our future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions. Peace, Om, SoulJester