It’s been a tiresome slog toward the relatively modest target at 1653.30 shown in the chart. Because Gold is vulnerable to a $50 plunge at any moment, trades should be initiated only via camouflage on the lesser charts or at clear swing points on the hourly. That implies that bulls should look for their next opportunity on a b-c pullback following a marginal penetration of last Thursday’s 1630.70 peak. The target itself (i.e. 1653.30) is a short, provided you’re able to hold theoretical entry risk to $50 or less per contract via camouflage. Please note that an easy move through the target could imply that gold will be swept higher along with stocks if eurobailout mania erupts Sunday night.
