Gold will test support at $1407 Monday, but will end NY trading around $1412. It will move slightly higher in Asia, and will close NY at $1423 on Tuesday. Wednesday will see gold to resistance at $1440, and it will likely break through Thursday in Asia. Friday will likely have gold in a new range, above the current $1407 to $1440 one.
The next range could be dramatically wider than the current. It could be from $1440 to $1650, but realistically, it will test support somewhere along the way. The range will likely be $1440 to $1510, with a pause to test support a few times at $1510, before the push to $1650 starts. Once it gets started, $1650 will only be a few short weeks away. We may not get there by the solstice, but maybe by fool's day.
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