Gold moves a little higher and stalls. You
could buy into this pull back for a quick profit,
but I don't think gold is going to spike out of here
right now.
Gold may put in a trading range here for a while
and then fall lower, unless this last burst can spike
much higher. The volumes are fairly good, but I'm
sure there is plenty of selling pressure ready to pounce
on the price.
If gold does succeed in going higher, the shorts will
start covering and that will drive gold even higher,
but only so far, as profit takers will pile in and pull
it back down. Never chase this market. Make it
come to you.
