Gold futures made a daily-scale compression yesterday and have moved up above it today. A closing break would indicate more strength to come:
We have had a number of calls from readers looking for guidance on gold as there has been a technical formation building up that looked like a ‘head and shoulders’ top. This new signal and the (so far) upward break of it make that a lot less likely.
We may issue a ‘buy’ in this market if this strength is sustained through the day.
