Gold Heading to 1,360 and could see 1,380.
Back on Sept 8, 2017 the USD hit a low of 90.680 and on the same day Gold hit a high of 1356.8. As the USD has been dropping I said a break and close above 1320 in gold puts 1360 back in play. With the USD hitting support earlier this year at 91.500 that is the number I was watching for a break below to test 91.000 again. And and not only a drop below 91.500 but a test and break below 91.000. And with that gold is at 1337.7 heading for 1340.
Looking at the charts below you can see when trades were recommended at Trends in Futures using my Common Sense Trading strategy (the only one I use for all markets and market conditions). The SSTP in the USD was hit on Dec 20 the BSTP in gold was hit the next day on Dec 21.
On the weekly chart below you can see a strong bullish posture back in Sept 2017 that actually began in July. (Time to catch the ride). Gold rose from 1220 all the way up to 1360. Today we see in Dec big money strengthening a bllish posture and once again a ride up. Funny how that works. If this continues week after week 1360, and even 1380 is next. If big money was not moving like you see gold (and all markets) would not have had a the sustained moves up you see. of course when big money moves from a bullish posture to bearish see the drops. To learn what Kevin "Mr. Wonderful" O'Leary says on shark Tank - "Show me how this makes me money"- download myfree e-book here on the COT. Read this it will be well worth your time.