Price may be overextended, but wait for some weakness to show before taking new short positions.
Gold trying to hold on the Modified Schiff up, but now is showing weakness. Look for a break down here or a small spike up and drop to the 1245 area if Pink ML Holds.
Price is breaking down out of the blue median line and is falling. Look for continued downward pressure especially if 2037.50 area breaks.
In my prior posts I had draw the Modified Schiff and predicted price would go higher at least to around 490. Now price is growing quick momentum on the traditional ML and I am leaning to take longs on any pullback, with a pause at the Mod Schiff Median.
Price has taken a recent bounce tho the Pink Median Line. Now we are set to watch a decision point
Price respected the lower Median Line and is rising higher now. Expect a pullback here.
Price has risen to the top of the median line and dropped near a sliding parallel with the high from May 6th
As predicted price turned up to 477 area, now retracing a bit. Look for push higher and act as support
Following the downward fork nicely
Price should rise a bit from here watch for a pause near 476.5
Chipotle has dropped off a cliff and has found support near 470-471 area. Look for a retrace up to the sour cream.
Paypal upfork continuing showing bullishness to the upside.
Upward bullishness has left Gold stalled near 1250-1300. I am looking for a pullback soon as market is overbought.