Prepared by Jamie Saettele, CMT
My last comments were that "expectations remain for a test of the September low at 1532 with price finding a top in the 1620/40 zone. Gold reached 1642 this morning (12/21) before reversing and risk on shorts can be moved to that level." 1642 was never exceeded and gold has tested the September low. The spike under the September low probably cleared the market of weak longs so beware of a pop into 1600 before sellers return.
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