Gold is hitting multiple support around the 850 level. As usual there are no guarantees in life. Then again buying starter positions when there is confluence of support is never a bad idea. That’s what I did today. Another reason I was willing to buy some gold related stocks is the fact gold prices gapped down into support. This is often the first sign of exhaustion. Let’s see if that support area holds.
Although I am not done scanning for today yet I like the way TSYS – TeleCommunication Systems traded today.
I might go long tomorrow.
Have a great evening!