Currently: Short Looking to: Cover @ 1,432
As of 12/15/19 @ 10:31pm EST: 1,478.75
LAST WEEK: We suggested shorting gold at 1,480.20 with stops on a close above 1,485 and with a target of 1,432.
UPDATE: Gold hit the short-side entry at 1,480.2 and almost broke above the stop-loss trigger at 1,485. But, the bulls failed to close the deal on that breakout. Gold once again appears headed down to our targets at either 1,432 or 1,396.40. We would sell any bounces to 1,480.20 with stops on a daily close > 1,485 and with a target for covering at 1,432. We would continue look to buy @ 1,399 with stops < 1,396 and would continue to look for a move up to 1,561 before selling out.