A sleepy road?

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Gold began the day trying to flirt again with the 625 resistance. Last week, we had this story all the time, with that level playing first as a support and later as a resistance.

625 has been a real magnet in this short term battle. Gold is now well under that line and is loosing ground but trades within a narrow range, as little volatility is often typical of this time of the year until Labor Day.

But all the strength accumulated has to explode and it seems Gold is likely to go down. But make no mistake, if it is really falling to explore maybe the 600 zone, be prepared to a reversal shortly.

Don´t forget we are in a bull market in Gold…