Bullish COT. Diverging but still Weak Momentum trying to turn positive.
The green technical area barely trying to hold itself.
SILVER (posted) looking much stronger.
Huge selling behind the present down move.
With these conflicting, confusing and diverging signals, perhaps Silver will provide a much clearer future direction for precious Metals Complex.
The Critical Price Zone support holding till now.
But the price action is not very encouraging for LONGS.
Start thinking about going LONG Gold, only when it trades above 1200 Level DECISIVELY.
BUT IN THAT CASE DO WITH VERY STRICT STOP LOSS as there is still very large selling in the background.
With Positive Divergences and Buying by Commercials (Last weeks data, this weeks awaited), I am Expecting the Current Price Area to Hold and Arrest The Downtrend. If that happens, I had Given The Upward Projection Target.
But if the current zone does not hold and give up, i have given the further Support Areas (H&S targets).
But that will invalidate the upward...