Where is Gold Going? Not Making New Highs.

Gold has been diverging a bit from its average price movement looked at yesterday, with current price overlays here:

20160517 Gold Tuesday

Also mentioned yesterday though, there’s a decent chance at Wednesday hitting the weekly low in Gold like so:

20160516 Monday Gold Prices

Although Gold hasn’t followed this movement as closely either, one of the best fits for Gold’s current price movement also has a Wednesday tracking downward and making even lower lows on Thursday:

20160517 Gold going into a Wednesday Low

All three models are in agreement that Wednesday shouldn’t take out Monday or Tuesday highs.  A profitable, short-term trade could still materialize in the latter part of Wednesday.

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