On March 20th, june gold traded up to 1618 /oz. 3 weeks later at 1323, Gold had dropped 295 bucks or 18%… That low was April 16th. Just a month ago.
Not surprisingly, we had a 50% retracement of that sell off, rallied up to and tested 1470. We danced there the first time on the 25th then traded there EVERY DAY FOR THE NEXT 12 TRADING DAYS. The last time we were there was last Thursday. IN the last 4 days, we finally fell off, as the longs through in the towel. Today’s low at 1390. That’s an 80 dollar profit for being patient. I have 1385 as a level to cover more. A break to 13.50 and I’d want to buy it.
CER
