Gold is setting up some potentially good entry points, although today’s move up might be somewhat too much, we would still look for entry points around these levels. The set up reminds of the SPX bounce we had from last week. The last move down, has scared the weak money. Friday’s hammer formation right of the support levels should mark the short term bottom this time, just like the bounce we had in mid May, as the weak money is shaken out. Look for 150+ to be retested sooner than later.
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