Keep eye on $VIX as it is rising toward what has been resistance. This could prove difficult to do? Im thinking it will again provide support for any market drops next week. Also, $GOLD looks like it may have hit a wall.
Looking for gold to hold the line in this area. The key is to be patient and let it show its next direction. $GLD
Upside risk reward set up favorable at current levels. Lets see if we can hold here and taking a shot on the long side with stop at recent lows at around 1197 on gold futures.
If this potential head & shoulders in gold plays out, new lows could be in store.
…Decision time for gold. It got the 20 DMA over the 50 today, it needs to hold for this to be bullish. Which side will win the battle??
In addition note the bearish cross on PMO, this would suggest further downside is imminent.