Gold held good support at 1241/39 as predicted & hit our target of target 1264/65 for a selling opportunity. This trade worked perfectly as we topped almost exactly here at 1266 & collapsed to 1255. If this support does not hold today look for a test of 1249/48. A buying opportunity at 1242/40 again today if we fall this far.
If we can hold on to good support at 1255 we could then target 1264/65 for a second selling opportunity with stops above the 100 day moving average at 1271. Go with a break higher for a test of January highs at 1279.