Gold Lower!

Gold over the last 24 hours: High 553.60 yesterday at 1:25, low 542.50 today at 5:44. Now at 543.50. Below 540 would look quite bad on the 30-day and 60-day charts. The long term bull trend on the 1-year chart is still confirmed. The shorter term is in doubt at present. Watch the price of gold. If it goes below 540, I would expect it to go a little lower. However, it would have to approach 500 to direct the long term trend a bit lower.

DROOY has been below 1.40 which is in excellent buying range. It could go lower, but who can accurately always buy at the low? Or who can always buy at the high? When we get close, that is great!

As always, buyer beware.

Best to each, Doug