Near Term Trend: Neutral / Bullish
As of 4/6/18 close: 1,337.30
Last week, I suggested shorts at 1,356 with stops on a weekly close above 1,358 and with a target of 1,273.
Gold futures bounced to 1,352 and change on Monday and faded throughout the week. Gold’s price is clearly tied to bond prices right now – the charts for the week are very similar. Last week’s strategy stays in place.
I would continue to look to sell gold at 1,356 with stops on a wkly close > 1,358. Tgt is 1,273.