Congrats to anyone who shorted that double top. Nice profits on NUGT puts... Supports incoming. Bulls need to defend 1516.77 first, most likely see a bounce on the first attempt if selling pressure starts to drop. That is an important level because it would show the loss of the 4H uptrend, something gold hasn't seen since this whole run up.
Break 1516.77 convincingly and we'll look for a higher low to form above 1493. Don't forget we are into MONTHLY resistance...
Break 1516.77 convincingly and we'll look for a higher low to form above 1493. Don't forget we are into MONTHLY resistance...