gold update

market vibes

This morning in “mr october” I wrote:

In the day structure we have single prints (a liquidity void) or an area where very little volume was available to buyers from $3792.00 up to $3807.00 and they really didn’t begin to get filled in this session until the middle $3815.00 area. Unless these single prints are filled it is likely the range in the NY session will extend higher, either today or tonight) as these buyers, whether short covering or new length, compete to get in or out.

“So the job today is to keep an eye on the lower end of these single prints just under $3800.00”

Market profiles: each letter = a 30 min period

Here’s an update how the day is developing:

Prices for Dec gold traded down to $3799.00 in “C” time at 10:30 AM EDT (chart below) testing the void created in “q” time (ca 4:30 AM EDT today) and held leaving single prints intact between $3797.00 and $3799.00.

Prices just filled the single prints and held again.

Here’s a bar chart of mid session of Comex activity and so far gold has held a retest of the $3800.00 breakout with a sharp rejection on high volume.

A close below $3795.00 in this session would imply new sellers above $3800.00 are attempting to take control… that would not be optimal…

So far 3 attempts to probe this $3795.00 $3800.000 area have attracted strong responsive buying and held well. Keep an eye on it. Today is shaping up to be an interesting move.

JJ