Sure looks like a bottom in Gold to me.
Over the last few hours Gold has had a higher low of $1182.97 since the low of the day at 1182.08.The hammer at the bottom a few hours ago marked the low today. The Aroon down has come off its high and the Aroon up has come off its low. The Stochastic indicator is about to give a buy signal on an hourly chart. I'm long GLD July Week 2 113 calls that I bought this morning. I had sold them last week at $2.78 after buying them the week before at roughly the same price that I paid today $1.73. I also have a few NUGT 10 calls with a July Week 2 expiration that I purchased on Friday, after I sold GLD $115 and $116 calls because of the close down on Friday. I wanted some position in Gold, just not as large as I had. Now I'm fully invested long and looking for Gold to go to $1238. Right now Gold is testing that higher low at $1182.97 and it looks like a successful test. The low the last hour was $1183.13. Enjoy the ride up. It should be exciting like last Thursday was.
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