Gold is still trading in a tricky territory near support from the 681 uptrend line. I exited my Gold short a few weeks ago around 1680. I could have got some more profit out of it but I was spooked by the possibility of a big bounce. And I still feel like a big bounce [...]

On the daily chart, Gold could be setting up for a sell tomorrow. But based on the weekly chart that I have shown, Gold is still in the general vicinity of holding the 681 uptrend line. That is if the sell setup fails tomorrow or if Gold rallies big time today then it would be [...]

I closed my entire short Gold position this morning. Gold held above the 681 uptrend line all last week and today has rallied strongly to the upside. This is potentially a very bullish situation. I think at the very least I will have another opportunity to sell Gold at 1700 again so I have simply [...]

Gold is testing the 681 uptrend that dates back to 2008, this is the last uptrend line and arguably the most meaningful one. If Gold breaks down below this trendline then it’s game over for Gold. It’s tough being short here because a really big bounce could take place from here. However this bounce should [...]

Gold has bounced hard off the 200 day moving average. I expect the bounce to be contained by the 20 day moving average and will add to my short position on a reversal near 1720.

I’m not going to claim that I knew this was going to happen but it was just a week ago that I read that John Paulson said now is the time to buy gold revealing that he has a $2.9B position in Gold. Why in the world would anyone reveal that they have such a [...]

I want to get short Gold at the current price levels but there is no sell setup yet. Today’s up move in Gold could be a good shake out of the shorts before it reverses back to the downside tomorrow. So provided Gold stays below 1789.5, Gold could be setting up for a sell tomorrow. [...]

Gold is moving back up towards the 1767.1 high. I think it has potential to hit the 1776-1792 range. I still am bearish on this market but now is not the time to short. I have to wait for a better sell setup than this. If Gold takes out the old 1767.1 high then I [...]