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UBG - Gold: Look For More Supply To Hit Metals Markets Next Week
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Gold was trading last at $1,557.70, up about $7.30. The Variable Changing Price Momentum Indicator (VC PMI) average daily price is $1,552. The Sell 1 level above the mean is $1,556, and the Sell 2 level is $1,562. The Buy 1 level below the mean is $1,546 and the Buy 2 level is $1,542.
The market ran up above the average price overnight and activated a bullish price momentum target. The target of $1,556 was completed. The market is trading above that Sell 1 level of $1,556 and has activated the target of $1,562. The