Gold Futures New Weekly Outlook

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Gold Futures New Weekly OutlookGold FuturesCOMEX_DL:GC1!MKT_TRADEGC has found itself under the PYH and now starting the week under the WEEKLY DIR 4539. Here is the new weekly. BULL: GC remains firm over the PQM 4436.1 and reestablishes its base over the WEEKLY DIR 4539 and then PYH 4584.2 for a potential test of the UP at 4648.9. NUETRAL: GC currently is in a NEUTRAL stance with lower bounds defined by the R -AD 4305. For this week to remain in alignment with the shorter term trend a held trade of 4305 is crucial, as a break is not a market to chace to buy but a market to be patient for better alignment. BEAR: GC breaks 4305, invalidating the current MKT STATE and STRUCTURE defined by the R level of the session. This would put the DT1 4259 initially in play with the lower extreme all the way down to PMC at 4107. Keep an eye, and stay patient, DP 4389 - 4324 this week provides the best support band short term.