Near Term Trend: Bullish / Neutral
Fridays close: $1,255 (+$9.50)
UPDATE: Last week, I suggested selling longs at 1232.30 and shorting up at 1236.50 with stops above 1238.
The weak US Dollar has propelled gold higher through initial resistance this week. The rally in the greenback may pause soon, however. Will golds bounce fizzle out as well?
Id be trying shorts in gold again up at 1261.80 with stops on any daily close above 1265.30 and with a target of 1190.