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Quietness and Monday! It’s Veteran’s day. Gold…bouncing or dropping.

So a quiet Monday, both Gold and AUDUSD are still heading bearish *BUT* I am wary of a head and shoulders forming on the GOLD daily chart. Tomorrow I am waiting for a position of 1265.00 or thereabouts to consider buying Gold again if there is a move against the USD. At the moment the pair is not in a good position to buy, if it breaks below 1265.00 we could be heading down to 1180 or thereabouts which is a very low level.

If we head up we could be heeding back up towards 1358.00 and 1418 in extension.

So I’m staying flat for now until we see a break of those levels.

 

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