- Our overbought indicators are still flashing the warning signs we mentioned last week.
- Our long-term and short-term indicators remain bullish/long.
Gold has been in a sustained trend higher, rising from the mid 900-range (just a few weeks ago), breaking through the 1000 milestone mark -- and is now reaching contract highs around 1020. Gold is poised to spike through to new highs, or may consolidate before continuing its run.
In other futures markets:
- Sugar is reaching multi-year highs.
- ECU & Yen strong vs. US dollar.
- Bonds continue to move higher.
- Crude oil is volatile as usual, but is trending higher.
- Grains and meats are generally lower.
- And as we mentioned, gold is very bullish. Other precious metals and copper are also moving higher.