Back in a gold short. Orders marked. Just a range trade for now targeting the $3,154 poor low. I'll take profit on the way down if we get follow through at $3,250 and $3,207.
Invalidation on a sustained break above $3,370.
WTI stress free profit for anyone who took it. BSSP tagged this morning, also resistance.
A little more context to the gold trade above. Descending channel since June. Completion could be in that $3,150 region in late July/early August. Using $3,370 as an invalidation makes the risk/reward very appealing.
Obviously this trade also hinges on the US dollar remaining constructive following last week's close above 97.70. We'll see.
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