Gold

The engulfing candle of last week could imply additional near term downside even if gold has a positive week this week. But look at the MACD... noted a couple NFTRH ago, MACD does not have the spikey, momentum frenzied look it had leading into previous corrective phases, most notably the 2008 event.

No, gold's MACD "looks more like a platform than an over bought peak" said NFTRH134 before last week's red weekly candle showed up. The first important support level is noted. Meanwhile, gold maintains an upside target of 1642 by the chart that was included with #134. Corrections are pauses to clear out the clingers on.

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