Prepared by Jamie Saettele
Gold has made an outside week, further bolstering the near term bearish bias. Price is holding its 20 day average but a break would shift focus to the 1380/90 area. 1393.37 is the 38.2% retracement of the advance from 1308.70 and 1392.20 is a former pivot low. 1380 is the 50 day average.