Gold This Morning: Hiding in Plain Sight -Jon

FEB gold continues to wobble bumper-car like between the high $1370s and the upper $1380s. Turnover is average and punctuated by accelerated spurts indicating either a now tired-looking distribution process or manic directional players attempting to provoke moves as we commence the roll period from FEB to APRIL. The facts continue benign with GSR up a touch overnight to ~47.0 and open interest ~4,000 contracts higher basis Tuesday. RSI is creeping higher and is now barely under 50. FEB options which expire in 13 calendar days were under 15 this morning indicating complete volatility indifference and perhaps buttressing the distribution case. Today: Expect a continuance of trading within the range while keeping an eye on the feeble USD performance.  http://www.biiwii.blogspot.com