Gold – inflection points for Apr. 12, 2017

Yesterday’s trades

GC M17. Apr. 11. 2017. 30-minute bars.

2nd sell: $1270.50-$1271.50
1st Sell: $1262.50-$1261.50
Keyline: $1255.50-$1256.50
Buy: $1242.60-$1243.10

Gold made an enormous rally yesterday, the biggest one-day move since the middle of March.

The price drifted higher in the overnight trading, but once the New York day session it took off like a rocket, moving about $20 per ounce in the morning session.

The futures reached reached $1281 an ounce, a new high for the year, before falling back slightly for the close.

The price blew through Nat’s 1st and 2nd buy levels so quickly it was difficult to find a good entry. Nat warned her trade room subscribers that the best strategy was to “buy the dips” and members who did that were able to catch part of the move. Shorts were slaughtered.

Gold fell about $350 an ounce from July to December last year, It has now recovered 61.8% of that decline.

Today’s workbook

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