It would be nice if $930 held, it is roughly the 50% retracement of the last swing. If it holds , it adds weight to the case for a new high later in the year , a continued pullback below 900 gives weight to the Tim Wood case that this whole move from Oct is a counter trend move. His intermediate term (basically weekly charts) CTI is rolling over for gold and is starting to warn his subscribers to be careful about long positions.

I’m sort with Tim in the moment in that I have taken profits on my producers and will either buy back in at lower levels or buy in if gold makes a serious attempt at a new high. I hope he is not right about gold hitting a newer low this year and if it does what does it mean? Massive deflation ? $25oil 5000Dow?