The DEC'09 GOLD contract is flirting with a negative shift and will remain vulnerable to a negative turn with all trading below the 949.2 Inflection Pivot. A held break under 935.3 confirms Monday's negative signal targeting 920.9 on the initial drop. Use caution. This sell off has the potential to feed on itself targeting 905 and 884/8 on any sustained decline.
A held trade above 949.2 puts the negative signal in question and the MKT back in a digestive trade up to 963.1. FADE the initial challenge a rejection is expected. Only above here are the buyers back for a run at 990.3.
JS
This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.
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