We closed above the 1217 level suggesting we will press a bit higher. We now need a closing above 1220 to signal a rally is possible up to the 1255 to 1275 area. We need a year-end closing above 1310 to shift gold into a neutral position.
A number of emails have poured in asking how could we possibly see a crash and a pop swing coming. This is simply pattern recognition models that are very sophisticated and are part of the AI system. Keep in mind this is not personal opinion. The ONLY way to do this is to monitor the entire global economy simultaneously.
A key number for the 2014 close will be 1228 at the minimum. A failure to close at least above this level at year-end will be very bearish for next year. This area will now also become resistance for now.
