More and more, Gold futures are trading like Corn, Wheat and Soybeans — i.e., generally doing what’s expected of them, but not at a time of the day or in such a manner that catching a ride is ever easy. Gold’s caginess probably reflects the fact that “everyone” “knows” by now that it’s going higher. Moreover, as the futures actually do move higher, they are attracting some veteran traders who may have tired of, for one, Crude Oil’s churn. So what advice can I offer you tonight? A camouflage entry opportunity is in play at this very moment (12:25 pm.’ EDT), since the August contract has pulled back to the 1615.90 midpoint of the pattern shown.
