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Gold vs. Mysterious, Evil Forces

By: Rick Ackerman, Rick's Picks

 -- Published: Friday, 9 June 2017 | Print  | Disqus 

GCQ17 – August Gold

(Last:1281.00)

Thursday, June 8, at 8:25 p.m. ET

https://www.rickackerman.com/wp-content/uploads/2017/06/Gold-recouped.jpg

Gold got sacked in the early going Thursday by the usual mysterious, evil forces, dropping $10 in mere minutes on the reported sale of 15,000 contracts. By day’s end, however, the Auggies had recouped enough ground to put a promising, bullish pattern in play (see inset). It has the potential to reach 1308.50 next week — and the sooner the better. More immediately, the push past the green line warrants a bullish trading bias, predicated on a minimum upside target of 1291.00 — the midpoint Hidden Pivot. An easy move through it would shorten the odds of a continuation to 1308.50 by generating a strong impulse leg on the intraday charts.   If you don’t subscribe, click here for a free two-week trial that will allow you not only to view the tout, but to enter the Rick’s Picks chat room, where great traders from around the world gather 24/7.


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 -- Published: Friday, 9 June 2017 | E-Mail  | Print  | Source: GoldSeek.com

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