Spot gold rallied off support at $1670 as the dollar weakened. The primary trend remains upward and breakout above $1800 would signal a test of $1900*. Declining 63-day Twiggs Momentum warns that the trend may be weakening, but only a cross below zero would confirm.
* Target calculation: 1800 + ( 1800 – 1700 ) = 1900
i probably am wrong but didnt you say that if gold broke 1700 that there waqs good reason for it to go to 1600?
I did say it was likely but the metal failed to follow-through below $1670. Recovery above $1700 would then reverse the signal.
thank you for your reply