Gold

By the way, before you read this, one note: these posts I put on linkedin in are only small excerpts from the analysis I provide, and I put them up only once in a while--maybe once a week. But the full Gold analysis is much more involved and put out twice a day--pre and post market. 

Directional Opinion: We settled in a bull leg.  Settlement below 12193 will start this in a bear leg. On a macro basis:  The solid trade above 11916 projects this upward $144, but can withstand $36.5 of violation and remain valid.  We have seen $96.2 of this so far.   We took out the major resistance line at 12150, which projects this upward $175 over the next calendar month.  We have attained $72.8 of this so far. If we fail solidly back below, look for solid profit taking to come in for $185 (+).  This line comes in at 11997 this week, but could also be drawn to come in at 11896 today.  On a shorter term basis: The decent trade below 12368 brought in $29.1 of the $39 minimum.   This comes in at 12518-35 today. This is on hold as we left a gap higher intact Thursday.  If we break back above here decently, look for decent short covering to come in, with a run back up toward 12710 likely.  Trade above 12450-68 has brought in $9.3 of the continued strength warned about above in the Post Market Synopsis, but we are now called $6.7 higher as of 6:20am.