Currently: Cash Looing to: Short now / cover 1,768
As of 1/22/21 close: 1,856.20
LAST WEEK: We suggested selling longs / getting short of gold at 1,900 with stops on a close above 1,907 and with a target of 1,770.
UPDATE: Gold futures did not quite make it up to our sell / short trigger at 1,900. Based on last weeks trading, we now believe a ceiling is in place for now at 1,874.60. Below that and we believe gold will head down towards at least 1,767.20 and likely down to either 1,702.50 or 1,673.20.
We would sell longs / get short immediately with stops on a close above 1,874.6 and with a target for covering at 1768.