Currently: Cash Looking to: Short @ 1,483
As of 11/29/19 as of 12:02pm EST: 1,470.45
LAST WEEK: We suggested selling longs / getting short at 1,483 with stops above 1,485 and with a target of
1,400 for covering and getting long.
UPDATE: Gold still appears to have more work to on the downside before any sustainable rally commences.
We still see gold bottoming at either 1,432 or 1,396. From there, we can see gold rallying up to 1,561 or 1,596. We would continue to short gold at 1,483 with stops on a close above 1,485 and with a 1,432 cover target. Look to buy at 1,399 with stops below 1,395 and
with a 1,561 target.